FTSE finishes in the red despite late rally

first_img Tags: NULL alison.lock FTSE finishes in the red despite late rally The FTSE slumped below the 5,900 mark this morning on continued Middle East unrest fears, but recovered ground after a boost to Wall St.The FTSE 100 still closed the day below 6,000, though, 0.35 per cent down at 5,914.89. It has lost ground in eight of the last nine sessions.Michael Hewson said the morning’s performance was due to a “toxic combination” of higher oil prices driving inflationary pressures and fears for global economic growth prospects.At its intraday peak, Brent crude for April delivery traded at $117.81 a barrel on reports of Libyan government counter-attacks on rebel-held towns in the country’s east that heightened fears of a civil war in the world’s 12th-largest oil exporter.The day’s biggest gainer was outsourcing firm Serco, which closed up 4.6 per cent to 579.5p after it posted what Shore Capital called “solid” full-year results. Shore Capital repeated its “buy” rating on the stock.Standard Chartered finished up 4.33 per cent at 1,688p after it posted a 19 per cent rise in profits and said it was off to a record start this year as China, India and other Asian markets boomed.The uplift led Lloyds Banking Group into the top ten risers to close up 1.59 per cent at 62.73p, while Barclays also rose on the news. Mining company Vedanta Resources closed up 2.11 per cent at 2,419p while Cairn Energy rose 1.84 per cent to end at 438.4p after the Indian government said there should be no problem with its $9.6bn (£5.9bn) acquisition of Cairn’s India business.Pub chain Whitbread was the sharpest faller, on high volume, down 4.5 per cent after it reported a slowing rate of sales growth at its Premier Inn budget hotel chain.“Disappointing sales at Premier Inn have weighed on sentiment, as did the purchase of self-service coffee bar Coffee Nation for £59.5m,” Hewson said.Car insurer Admiral saw 2010 profits rise 23 per cent, driven by the core UK motor insurance business, but its shares fell 3.1 per cent to end at 655p as investors questioned its business model. Rio Tinto, RSA Insurance, and Diageo all fell after going ex-dividend.Travel stocks slipped back with TUI Travel the biggest faller, though British Airways owner IAG bucked the trend after being upgraded to a “hold” by Charles Stanley with a price target of 210p.On the FTSE 250, ITV gained 9.3 per cent to 93.45p after pledging to pay an interim dividend. Its profits rose almost 200 per cent last year after hefty cost cutting and an upturn in the advertising market. Wall Street was boosted by the release of the latest ADP Employer Services report, which monitors private job creation and showed that employment grew more than expected, by 217,000, in February.The Dow Jones industrial average gained 8.78 points, or 0.07 per cent, to 12,066.80. The S&P 500 Index gained 2.11 points, or 0.16 per cent, to 1,308.44. The Nasdaq Composite Index gained 10.66 points, or 0.39 per cent, to 2,748.07. Wednesday 2 March 2011 4:37 pmcenter_img Share whatsapp whatsapp Show Comments ▼last_img read more

News Corp wins right to make Sky bid

first_imgThursday 3 March 2011 7:57 pm News Corp wins right to make Sky bid KCS-content 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 Tags: NULL NEWS Corp yesterday won full approval to bid for the 61 per cent of Sky it does not already own.Culture minister Jeremy Hunt accepted an eleventh hour News Corp concession that it would spin-off Sky News into a separate, publicly-traded entity, in order to counter media plurality concerns.Hunt said he accepted the terms offered by News Corp after it addressed a string of issues raised by media regulator Ofcom.The decision will save the bid being subject to a lengthy Competition Commission ruling that would have lasted at least six months.Hunt said: “The undertakings offered would ensure that shareholdings in Sky News would remain unchanged, and indeed offer it more independence from News Corp than it currently has.“Throughout this process I have been very aware of the potential controversy surrounding this merger. Nothing is more precious to me than the free and independent press for which this country is famous the world over.”An Ofcom spokesman said: “We are pleased that News Corp has agreed in the proposed undertakings to place editorial independence and integrity at the heart of ‘NewCo’ and to underpin this with arrangements that secure full independent governance.”The decision was slammed by an alliance of media owners who say the move will give Murdoch too much power. A spokesman for the group, which includes Daily Mail publisher Associated Newspapers, Trinity Mirror, BT and the owners of The Daily Telegraph, said it is now considering challenging the ruling in the courts.Vince Cable, who was axed from the decision-making process after promising to “wage war” on Murdoch to an undercover reporter, declined to comment yesterday.The Murdoch empire has yet to be subject to a full Competition Commission for any of its media acquisitions. However, the Times newspapers have an independent editorial board in place.Last month Sky saw its profits soar 40 per cent year-on-year for its second fiscal quarter as it added an extra 140,000 new customers. Revenue for the period was up 15 per cent to £1.66bn. Net profit hit £179m. whatsapp Show Comments ▼ whatsapp Sharelast_img read more

BP sells US plant for $575m

first_img whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe Wrap Share Wednesday 23 March 2011 8:09 pm BP has sold one of its US natural gas plants to Anadarko for $575.5m (£354.3m) as part of its $30bn asset sale to fund reparations for last year’s Gulf of Mexico spill. The Wattenberg Processing Plant in Colorado has the capacity to process 195m cubic feet per day and 15,000 barrels of natural gas liquids. Anadarko is the largest producer in the Wattenberg field and is also drilling in the emerging Niobrara Shale. KCS-content whatsapp BP sells US plant for $575m Show Comments ▼ Tags: NULLlast_img read more

HSBC axes its Russian retail banking unit

first_img Share Tags: NULL Monday 25 April 2011 11:11 pm HSBC has become the latest international lender to pull the plug on its retail operations in Russia, as foreign banks struggle to crack the dominance of the country’s state-backed giants.The London-based bank’s exit follows that of Barclays, which quit its Russian retail banking operation last month.Barclay’s boss Bob Diamond said at the time his bank was “unable to compete” in Russia.HSBC said it would close its retail business and reduce its private banking presence to a representative office, following a strategic review of its operations in the country.Russian chief executive Huseyin Ozkaya said: “It’s clear that the strongest opportunity for HSBC in Russia lies in servicing corporate and institutional clients.He added: “This enables HSBC to better support clients who are trading and investing internationally and require access to our extensive global network.”The bank had four branches in Moscow and one affiliate branch in St Petersburg, and will now focus on its investment banking operations in the country.State-owned banks control around 65 per cent of Russia’s top-100 banks’ assets, according to estimates, with Sberbank accounting for almost 50 per cent of deposits in the banking system.Foreign banks operating in the country have struggled to emulate Citigroup, whose heavily promoted Citigold service has outperformed competitors.Citi gained a foothold in the Russian market due to its early entry, having first established a Moscow presence in 1993. It now has more than 55 retail branches in about a dozen cities.INTERNATIONAL BANKS IN RUSSIAHSBC● The latest international bank to quit its Russian retail operations, with a shift away from private banking to corporate work.Barclays● Pulled the plug on its retail operations earlier this year, having struggled since it entered the market just before the financial crash.Société Générale● Bought Moscow-based lender Rosbank in 2008. Has 16,000 employees in Russia – more than in any country outside of France.Citigroup● Perhaps the only international player to have cracked Russia. It has become one of the country’s biggest banks since its 1993 entry.UniCredit ● The Italian lender is doing well in Russia. It bought International Moscow Bank in 2007 and now has more than 100 branches.Morgan Stanley ● Sold its mortgage unit last year to Russian Orient Express bank after the financial crash hit the country’s construction sector hard.Santander● Exited Russia in December, also selling to Orient Express. The Spanish bank had also faced tough competition from local lenders. whatsapp KCS-content Show Comments ▼ More From Our Partners Man on bail for murder arrested after pet tiger escapes Houston homethegrio.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgKansas coach fired for using N-word toward Black playerthegrio.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgLA news reporter doesn’t seem to recognize actor Mark Currythegrio.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comFort Bragg soldier accused of killing another servicewoman over exthegrio.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.org whatsapp HSBC axes its Russian retail banking unit last_img read more

Delaware betting market enjoys strong November

first_img Delaware betting market enjoys strong November 18th December 2018 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter State’s regulated sports betting market posts second-highest revenue total since opening, while iGaming sector struggles Finance Topics: Finance Delaware’s legal sports betting market has enjoyed one of its strongest months of the year to date, while the state’s online casino and poker market has continued to struggle in November.Net proceeds raised from sports betting for the month ended November 25 soared 151% month-on-month, aided by an 11% increase in handle to $16.4m. After player winnings of $15.1m and vendor fees of $160,711, the state generated revenue of $1.1m from the vertical.The vast majority of revenue was generated through Delaware Park, with the venue’s revenue of $805,285 accounting for 72% of the total. Delaware Park also accounted for the bulk of wagers, generating 217,7666 (64%) of the 338,965 placed over the month.For the year to date, Delaware has generated $6.8m from sports betting since the first bets were placed on June 24, with players staking $70.9m, and winning $63.2m.The state’s iGaming market, however, struggled in the calendar month of November. Total revenue was almost unchanged from the previous year – $209,235 in 2018 compared to $209,476 in November 2017 – though this represented an 8% month-on-month drop.The majority of revenue was generated via video lottery products, which accounted for $123,005 of the total, followed by $68,336 from table games and just $17,894 from online poker rake and tournament fees.Dover Downs generated revenue of $90,880, making it the largest single contributor of the state’s three licensed iGaming entities. Harrington Raceway, which has tended to fail to match its rivals, moved into second place with revenue of $66,516. Delaware Park endured a difficult month, with revenue down 54% year-on-year to $51,838.November saw 495 players register for iGaming accounts, up from the previous month, and more than double the 237 registrations in November 2017. Email Addresslast_img read more

Betinvest claims industry first with esports betting iFrame

first_img Email Address Tags: Online Gambling Video Gaming Casino & games 5th March 2019 | By contenteditor Topics: Casino & games Esports Sports betting Video gaming Subscribe to the iGaming newsletter Sports betting solutions provider Betinvest has rolled out what it says is the first customisable sportsbook iframe technology, designed specifically for the esports market.Clients can use the iframe, a box which sits within a website and pulls through content from another source, to instantly add a betting feature to esports sites. Companies will be able to customise the look and feel of the iframe to reflect their own branding, as well as use marketing features to develop promotional campaigns and drive betting activity. It also incorporates a range of security controls, to keep customers’ data safe while betting. Valentyn Kyrylenko (pictured), vice-president of business development at Betinvest, has said that the new solution has been designed to make integrating a sportsbook seamless.“With its sportsbook management function it gives operators the opportunity to use a variety of different tools, such as creating business reports, teasers and promotions, as well as being able to see the turnover for both betting and other activities,” Kyrylenko explained. “I think that the sportsbook iframe has the potential to be one of the most profitable products in gaming. It makes the process of starting a sportsbook business very simple.Key to this, he said, was the fact that those using the iframe only needed to handle customer management, with Betinvest handling all operational, technological and trading-related elements. “This technology is very promising for the whole gaming industry as it gives us the opportunity to help expand businesses even faster across the world,” he added. Betinvest claims industry first with esports betting iFrame Companies: Betinvest AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Sports betting solutions provider Betinvest has rolled out what it says is the first customisable sportsbook iFrame technology, designed specifically for the esports market.last_img read more

Scout to launch fantasy sports in Africa with Betway

first_img Tags: Fantasy Sports AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: Africa 22nd October 2019 | By contenteditor DFS Scout to launch fantasy sports in Africa with Betway Nasdaq Stockholm-listed Scout Gaming has brokered a new deal with Betway to launch its fantasy sports product with the online gambling operator in African gaming markets.Betway and its partners will now gain access to Scout’s full product portfolio and roll out fantasy sports services in the coming weeks.Further terms of the agreement were not disclosed, but Scout said that the deal could be expanded to other markets, with Africa being the initial focus for the partnership. Betway is currently active in markets such as South Africa, Uganda, Kenya, Nigeria, Zambia and Ghana.“We are proud that Betway’s African licensee partner selected us as their fantasy sports partner; they have quickly become market leaders in the region and we are looking forward to support them as they expand,” Scout’s chief executive Andreas Ternstrom said.Scout said that while the new deal is not expected to have a material impact on revenue for 2019, it has the potential to have a significant effect on revenue in future years, depending on the speed of roll-out in the region.Last month, Scout also brokered a deal to launch a daily fantasy sports platform with a leading media partner later this year under the terms of a new framework agreement with Eurovision Sport.Scout entered a deal with the division of the European Broadcasting Union, the alliance of public service media groups that has 116 member organisations in 56 countries and operates over 2,000 television, radio and online channels and services.The agreement stipulated that Scout will provide platform licences to Eurovision Sport, its partners and EBU Members.Image: Max Pixel Nasdaq Stockholm-listed Scout Gaming has brokered a new deal with Betway to launch its fantasy sports product with the online gambling operator in African gaming markets. Subscribe to the iGaming newsletter Topics: Sports betting Tech & innovation DFS Email Addresslast_img read more

Sweden to introduce SEK5,000 weekly deposit limit

first_img Sweden’s Minister for Health and Social Affairs Ardalan Shekarabi has proposed a SEK5,000 (£401/€459/$495) mandatory weekly deposit limit and a SEK100 cap on bonus offers from 1 June until the end of 2020 as the country battles the novel coronavirus (Covid-19).Shekarabi also said mandatory limits on playing time will be introduced, while the government is also looking into return-to-player (RTP) restrictions.The restrictions will also apply to video lottery terminals (VLTs), with the country’s relatively relaxed restrictions on social activity during the virus meaning that some land-based gaming facilities remain still open.Gustaf Hoffstedt, secretary general of Sweden’s online gambling trade association Branschföreningen för Onlinespel, told iGB that the measures were likely to lead to more players moving to the unlicensed market.“I am very concerned over the fact that this will accelerate the leakage from the Swedish licensing system to unlicensed sites,” Hoffstedt said. “We already have a problematic level of approximately 25% leakage when it comes to online casino, and with these governmental measures it will only get worse.”The proposal will undergo a referral process, which ends on 7 May and will allow stakeholders to provide input, before coming into effect. However, Hoffstedt said the referral process is expected to be very short and that changes to regulations during such a process tend to be unlikely.In addition, Sweden’s gaming authority (Spelinspektionen) will produce monthly reports until 1 September on recent developments, enforcement measures against unlicensed gambling sites and measures taken to strengthen consumer protection.Spelinspektionen will also be tasked with expanding national self-exclusion register Spelpaus to the land-based market as well as online.“Now there will be an even clearer focus on gaming responsibility and the fight against illegal gambling. We will make immediate adjustments to the organization in order to meet the new demands placed on the Authority,” Spelinspektionen director general Camilla Rosenberg said.The Swedish market has been characterised by a particularly strict approach to enforcing regulations opening its regulated igaming market 1 January, 2019.In July 2019, for example, after a series of fines for Swedish operators for apparently offering odds on sporting events featuring a majority of participants under the age of 18, BOS requested an urgent meeting with Spelinspektionen for greater clarity on regulations. The regulator, however, said that operators were simply “unaccustomed” to its regulatory approach.BOS later attacked the regulator’s approach to tackling illegal activity in the market, claiming that its strict approach to enforcement of regulations on licensed operators was not being matched by efforts to stamp out unlicensed gambling.In February, Spelinspektionen put forward an amendment to the country’s gaming rules that would see operators prohibited from offering odds on rule violations, such as a yellow card in football or a fault in tennis.This drew criticism from BOS and the IBIA, while H2 Gambling Capital pointed out that the Spelinspektionen-licensed commercial online betting channelling rate could fall as low as 70% (an 11% reduction).Elsewhere in Europe, Latvia has banned all online gambling while it remains in a state of emergency because of the virus, after the country’s regulator gained legal clarification on an intially ambigious bill.Portugal’s Parliament, meanwhile, passed a bill earlier this month demanding that the government takes some sort of action to restrict online gambling during the pandemic. 23rd April 2020 | By Daniel O’Boyle AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Topics: Legal & compliance Marketing & affiliates Subscribe to the iGaming newsletter Regions: Europe Nordics Sweden Sweden’s Minister for Health and Social Affairs Ardalan Shekarabi has proposed a SEK5,000 (£401/€459/$495) mandatory weekly deposit limit and a SEK100 bonus limit from 1 June until the end of 2020 as the country battles the novel coronavirus (Covid-19). Tags: Online Gambling Sweden to introduce SEK5,000 weekly deposit limit Legal & compliance Email Addresslast_img read more

Optimove iGaming Pulse – June 2020

first_img Optimove iGaming Pulse – June 2020 Casino & games 7th July 2020 | By Joanne Christie Email Address In June the key metrics returned to pre-Covid-19 levels, which is good news for the industry. Now is an ideal time for operators to implement best practice-based methodologies to reap the benefits of their new and existing players In June the key metrics returned to pre-Covid-19 levels, which is good news for the industry. But rather than simply celebrate things getting back to normal, now is an ideal time to implement best practice-based methodologies to reap the benefits of your new and existing players.One way of doing this is by sending out cross-selling offers to players with single product preferences. This will increase the likelihood of players becoming and remaining active.Sports KPIsAverage deposit amount The average deposit amount decreased slightly by 3% month-on-month, but increased by 13% year-on-year, to €35 per player.Though we haven’t have any major sporting events such as the World Cup or the Euros this year, sports betting numbers were still higher than last year.Monthly deposits Monthly deposits for sports bettors were almost the same as they were in May, increasing by 1% month-on-month and 11% year-on-year in June.Monthly revenue per player The average revenue per active player during June decreased by 2% month-on-month but increased by 17% year-on-year to €95 per player.All of the above KPIs support the fact that numbers were higher last month than during the same month last year. This could be due to the pandemic, as some players are still social distancing or going out less, which allows more time to play online.Retention rates After a sharp decrease in retention rates in April, there’s been an upward trend evident since May. Last month the retention rate for sports bettors increased by 10% month-on-month and by 18% year-on-year.Conversion rates Conversion rates increased by 7% month-on-month and by 26% year-on-year in June.Now that most major sporting events have returned, it could be a good time to cross-sell your players into casino games. We wrote recently about campaign ideas on how to cross-sell successfully.Casino KPIsAverage deposit amount The average deposit amount remained the same for casino players both month-on-month and year-on-year, sticking at €33.Monthly deposit per player The average number of monthly deposits per player during June decreased by 2% month-on-month but increased by 7% year-on-year to  9.2 deposits per player.Retention rates Last month saw an increase in retention rates, which rose by 2% month-on-month and 14% year-on-year.Conversion rates Conversion rates increased last month, by a relatively modest 3% month-on-month but by a massive 37% year-on-year.Mobile bettors ratio As we mentioned in last month’s report, there has been an increase in mobile bettors since last year as more gaming operators are offering casino games that are available to play on the go.Though we did see a small decrease of 3% month-on-month in June, there was a significant 33% year-on-year increase to 57%. That means that more than half of all casino players now play on mobile devices.We might have expected to see a decrease in mobile bettors since the beginning of the pandemic as players at home have access to desktop games. However, it’s clear they still prefer playing on mobile.For this reason, it might be worthwhile trying to cross-sell players from web to mobile, as mobile games usually generate higher revenue.About iGaming Pulse:iGaming Pulse is an industry benchmark tool for the gaming sector. iGaming Pulse enables gaming operators to accurately assess their overall performance against industry-wide key performance indicators.Its figures are updated on a monthly basis. It enables gaming operators to gain a clearer understanding of how their KPIs compare against the rest of the industry, broken down by geography and game type. This type of data, which is made publicly available for the first time, provides operators with the ability to conduct comparative analysis and derive insight into how their performance compares with industry averages.iGaming Pulse comprises of data collected from over 200 online casinos and sports betting companies, including industry giants and boutique operators, providing an accurate, statistically significant sample of the industry. Access to this information is vital for operators that are limited to only their own data. Optimove’s iGaming Pulse is now fully accessible, ensuring operators will have a clearer overview of how they compare to the industry.Image by Tumisu from Pixabay Topics: Casino & games Marketing & affiliates Sports betting Regions: Europe Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Mobile Online Gamblinglast_img read more

Boyd begins laying off furloughed employees

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 14th July 2020 | By contenteditor Casino operator Boyd Gaming has taken the “extremely difficult decision” to lay off staff members still on furlough, having warned in May that disruption caused by novel coronavirus (Covid-19) could force it to significantly cut headcount.In May, at a time when the casino sector was shuttered as a result of Covid-19, the operator informed workers that between 25% and 60% of staff could lose their jobs, with layoffs likely to take place between 1 and 14 July.The layoffs are at the lower end of the scale suggested in May, Boyd told iGB. This comes after the business placed the majority of staff on furlough in April, which it described at the time as a “last resort”.Boyd explained that while it had been able to reopen most of its properties since May, the business was still facing “significant restrictions”, and visitation remained “well below pre-pandemic levels”.“Given these ongoing challenges and continued uncertainty, we are moving forward with permanent layoffs of team members who were still on furlough and had not been recalled to work,” a spokesperson for the operator told iGB.Read the full story on iGB North America. Topics: Casino & games People Boyd begins laying off furloughed employees Subscribe to the iGaming newslettercenter_img Casino operator Boyd Gaming has taken the “extremely difficult decision” to lay off staff members still on furlough, having warned in May that disruption caused by novel coronavirus (Covid-19) could force it to significantly cut headcount. Regions: US Casino & games Email Addresslast_img read more