Weather blamed for 0.5 per cent GDP fall

first_imgTuesday 25 January 2011 9:30 pm by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStorySerendipity 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’DefinitionLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island Farm whatsapp Show Comments ▼ Tags: NULL Weather blamed for 0.5 per cent GDP fall whatsappcenter_img KCS-content THE British economy shrank by half a per cent in the final three months of the year, official data showed yesterday, despite economists on average expecting an expansion of up to half a per cent.The decline was largely blamed on the crippling effects of December’s snowstorms, which knocked half a per cent off the country’s GDP, according to the Office for National Statistics (ONS).But the effect of the weather and the economic slip up may have been overstated, according to some economists. “The ONS has hardly covered itself in glory in recent years with its first estimate of quarterly GDP,” said Ian Harwood of Evolution Securities. “Such estimates are generally subsequently revised, and often very substantially,” he added.And the ONS admitted: “the effect of the bad weather is the best we can make it at this stage, but is still inevitably uncertain.”Economic progress would have been “flattish” irrespective of the severe weather, the ONS suggested. The construction industry plummeted by 3.3 per cent, it found, while the UK’s service sector also shrank by half a per cent.Yet the results are “at odds with what the monthly purchasing managers’ index (PMI) surveys have been saying,” Harwood argued.“The composite PMI surveys [which measure economic activity] have run above 50,” he said.All index scores above 50 indicate economic growth.“It is possible to construct a monthly series based on separate data for industrial, construction and services output,” added Henderson’s Simon Ward. “This calculation reveals that the average level of GDP in October and November was 0.1 per cent higher than in the third quarter. In the absence of the bad weather, GDP would probably have risen in December,” Ward claimed.And Ward believes the effects of the weather have been overestimated in the data. “The December estimate probably relied on information for the early and middle parts of the month when disruption was most severe.”And the recovery should rebound in the first quarter of this year, economists expect. “The economic recovery is probably proceeding at a moderate pace,” Ward added. More From Our Partners Police Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgKiller 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.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.orgMark Eaton, former NBA All-Star, dead at 64nypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comWhy people are finding dryer sheets in their mailboxesnypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.com Sharelast_img read more

Toshiba profit surges on smartphone boom

first_img Toshiba profit surges on smartphone boom whatsapp Monday 31 January 2011 7:36 am whatsapp Japanese computer giant Toshiba has more than doubled its quarterly operating profit on booming sales of NAND flash memory chips and the LCD panels used in smartphones and tablets.But the sprawling conglomerate cut its full year sales forecast and left its operating profit outlook unchanged for the year to March, citing a strong yen and uncertain demand for some of its other products, which include everything from home appliances to nuclear power plants.South Korean rival Samsung Electronics is expected to benefit this year from booming demand for smartphones and tablets, but Toshiba’s hiving off of its mobile phone division may have improved its chances of maintaining close ties with Apple.“I think they are still able to compete in semiconductors, although it is a very difficult market,” said JP Morgan analyst Yoshiharu Izumi of Toshiba.“Samsung faces the problem of rivalry with Apple. That is something that will help Japanese makers.”Toshiba CEO Norio Sasaki, who took the helm some 18 months ago, has vowed to sharpen the focus of the sprawling conglomerate and has taken a hard line on costs, with rival Samsung firmly in his sights.For the three months to December 31, Toshiba reported a 37.5 billion yen (£287m) profit, compared with 14.5 billion yen a year ago. In the quarter, electronic devices, including LCDs and flash memory, generated 17.2 billion yen in operating income after a loss 6.6 billion yen a year ago.Overall performance, however, was not as strong as analysts had expected. The profit came in lower than the average forecast of 50.2 billion yen, but the discrepancy had been flagged by Japanese media at the weekend.Fumio Muraoka, a senior executive at Toshiba, said the company’s full year profit on NAND chips would be lower than it had forecast at the start of the financial year after profit margins sagged in the third quarter. And the overall outlook is also certain, Toshiba said in a statement, with the market for system chips weak.“Although the company has so far recorded higher operating income than originally anticipated, mainly as a result of healthy performances in in memories, the LCD business and PC business, the direction of system LSIs is still uncertain at this point,” it said.To lower costs and cut its exposure to system LSI chips Toshiba said in December it would outsource output of some system chips to Samsung and sell a factory in Japan to Sony Corp as it reduces its non-memory chip exposure.Toshiba left its full year operating profit forecast unchanged at 250 billion yen, below consensus, but said the figure had been brought down by asset impairment. Share by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal 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 AthletesBetterBeLuxury SUVs | Search AdsThese Cars Are So Loaded It’s Hard to Believe They’re So CheapLuxury SUVs | Search AdsMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryAlphaCute30 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 alison.lock Show Comments ▼ Tags: NULLlast_img read more

Morgan Stanley to get Northern Rock UKFI deal

first_img whatsapp Share whatsapp Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe 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 Wrap’Black Widow’ First Reactions: ‘This Is Like the MCU’s Bond Movie’The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap Tags: NULL Thursday 17 February 2011 8:42 pm 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 AthletesBetterBeZen HeraldNASA’s Voyager 2 Has Entered Deep Space – And It Brought Scientists To Their KneesZen Heraldautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Seeautooverload.comWanderoamIdentical Twins Marry Identical Twins – But Then The Doctor Says, “STOP”Wanderoamcenter_img Morgan Stanley to get Northern Rock UKFI deal KCS-content Show Comments ▼ UK FINANCIAL Investments, the government body in charge of managing public stakes in bailed-out institutions, is soon to appoint Morgan Stanley to advise on the sale of the Northern Rock “good bank” later this year. The sale will follow the auction of 318 RBS branches sold to Santander UK last summer for £1.65bn and is likely to attract a similar set of bidders. Those interested are thought to include Virgin Money, Tesco Bank, National Bank of Australia and private equity group JC Flowers.If Morgan Stanley does sign the deal, according to Sky, it stands to earn £2m in fees. last_img read more

Big Fish lures Karp as new president

first_imgCasino & games Topics: Casino & games Strategy Social gaming AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Aristocrat has appointed social gaming pioneer Jeff Karp to lead its $900m Big Fish division Subscribe to the iGaming newsletter Aristocrat has appointed Jeff Karp, the executive behind Farmville and Words With Friends, to lead its $900m (€755m) Big Fish social gaming division.Karp, who becomes managing director and president, has previously held senior executive roles with leading video game companies including Electronic Arts, Zynga and GSN Games.While Big Fish has a portfolio of successful games across the social casino, social gaming and premium paid games markets, including Big Fish Casino and Cooking Craze, Aristocrat is ambitious for the company it bought from Churchill Downs for around $900m in January.Jeff Goldstein, Aristocrat’s chief strategy officer, said: “Jeff’s expertise in growing games into global entertainment franchises is unsurpassed.“His proven track record and deep experience in the games industry make him the ideal person to drive Big Fish’s growth strategy, and ensure the business delivers its full potential.”Karp was most recently the CEO of Sports Illustrated Play, a youth sports focused digital platform that attracted more than 17 million monthly users. He was instrumental in building multi-billion-dollar franchise games, including EA SPORTS, Words With Friends, Farmville and The Sims franchise.He arrives at Big Fish six months after its surprise acquisition, in a move that made Aristocrat the world’s second biggest social casino firm with it having also bought Plarium in October for around $500m.At the time, Adam Krejcik, analyst at Eilers & Krejcik Gaming, said: “The surprise announcement to acquire Big Fish for nearly $1bn combined with its recent acquisition of Plarium for $500m will transform Aristocrat’s digital business into a business that should generate in excess of $1.1bn in revenues and $250m in [EBITDA, or profit before taxes etc.] next year.”Speaking about his appointment, Karp said: “Big Fish is a content-rich company and its employees are passionate about making great games that bring joy and fun to millions of players around the world.” Email Address 4th July 2018 | By contenteditor Big Fish lures Karp as new presidentlast_img read more

Ladbrokes “supportive” of pre-watershed gambling ad changes

first_img Subscribe to the iGaming newsletter Ladbrokes “supportive” of pre-watershed gambling ad changes Tags: Mobile Online Gambling Ladbrokes Coral calls for “industry-wide initiative” over daytime TV ads Topics: Legal & compliance Marketing & affiliates Sports betting Legal & compliance Email Address 17th July 2018 | By contenteditor Ladbrokes Coral said it would consider further restrictions on pre-watershed advertising regulations.Speaking to iGamingBusiness.com, the company’s marketing director Alexis Zamboglou admitted there needs to be “an increased focus on protecting the vulnerable”.Zamboglou was speaking after it emerged that the Advertising Standards Authority (ASA) had seen a spike in complaints about gambling advertising over the course of the FIFA World Cup, with many concerned about saturation. Almost one in five adverts shown during World Cup broadcasts were for gambling companies, according to a Guardian report.While current guidelines stipulate that gambling adverts are allowed during pre-watershed broadcasts of live sport events, Zamboglou said Ladbrokes Coral would be “supportive” of changes.Zamboglou told iGamingBusiness.com: “We… feel there needs to be an increased focus on protecting the vulnerable during pre-watershed advertising and would be supportive of a move to do so, so long as this was part of an industry wide initiative.”Following the Guardian’s World Cup advertising report, GambleAware chief executive Marc Etches said there were increasing concerns about sports betting becoming “normalised” for children.Etches said in a statement: “In the absence of evidence, the concern is that this is an adult activity and young people are growing up with it being normalised.“They get exposed to it on television around sports, advertising online and gambling activities within [computer] games.“It seems to have gone too far. And for young people growing up there just seems to be a stronger and stronger affiliation between the two [gambling and sport] and I’m wary of that.”While there may be concerns from some quarters about advertising saturation during the World Cup, Zamboglou said Ladbrokes and Coral’s commercials “enhanced” coverage of the tournament for sports fans.Zamboglou told iGamingBusiness.com: “The key KPI our TV campaigns for both Ladbrokes and Coral was to allow or brands to advertise the value of our products, services and customer experience during the noisiest four weeks of advertising for quite some time.“Sports betting is enjoyed by millions of people across the UK every year and we wanted to make sure that this great sports entertainment product enhanced sports fans’ experience of the World Cup, without diluting our strong commitment to responsible gambling.” AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Regions: UK & Irelandlast_img read more

CrownBet brings back BetEasy brand

first_img Subscribe to the iGaming newsletter Regions: Oceania Australia AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter 31st July 2018 | By contenteditor Tags: Online Gambling Email Address CrownBet brings back BetEasy brand Topics: Strategy Tech & innovation New brand to be rolled out following CrownBet’s takeover of William Hill Australia The Stars Group’s CrownBet and William Hill Australia brands will be merged under the ‘BetEasy’ name in the coming weeks, it emerged this (Tuesday) morning. CrownBet’s head of corporate affairs, Daniel Bevan, told iGamingBusiness.com that customers on its platform and players with William Hill Australia accounts will automatically switch over to BetEasy.Both CrownBet and William Hill have already started communicating with customers about the changes. The Stars Group increased its majority stake in CrownBet in March, shortly after CrownBet agreed a deal to buy William Hill’s Australian business. CrownBet finalised its acquisition of William Hill Australia in April. The aggregate price for both transactions was $315m (£240m/€269m).The BetEasy brand was previously active in Australia under the ownership of Matt Tripp, the current chief executive of CrownBet, who purchased Betezy in 2014 and relaunched the operation under the BetEasy name.BetEasy then rebranded as CrownBet after its purchase by Crown Resorts.CrownBet announced last month that it wanted to rebrand as Sportingbet, which was one of Australia’s leading brands before being bought out by CrownBet five years ago.However, Paddy Power Betfair-owned Sportsbet launched legal action in a bid to stop the move, saying in a Federal Court lawsuit that the name would infringe on its own trademark and confuse punters.Sportsbet secured a temporary court injunction earlier this month to block the rebrand. Strategylast_img read more

F1 partnership talks under way

first_img Race is on to secure motorsports championship’s first betting packages AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter F1 partnership talks under way 9th November 2018 | By contenteditor Topics: Sports betting Tech & innovation Sports betting Subscribe to the iGaming newsletter Formula One’s first official betting partner could be announced soon after the motorsports championship began talks with major global brands for the packages, which are tipped to be worth $100m (£76.8m/€88.1m).The betting partnership packages, developed with data giant Sportradar and announced in September, will offer operators exposure via TV graphics, trackside signage and F1’s website and social channels. Interregional Sports Group (ISG), the London-based international sports media group which has the rights to sub-licence the packages, announced on Thursday afternoon that discussions are now beginning with “global betting brands”.“We are extremely proud to have created one of the best premium sports assets available,” said ISG joint chairman Tony Ragan in a statement. “This is a great opportunity for ambitious brands that want to extend their sportsbook’s reach and get ahead of the opposition.“We are beginning dialogue with a number of very exciting global betting brands. They are rightly viewing F1 as a huge opportunity.”Liberty Media, the owner of the motorsport championship, and its data and media rights partners will work with information taken directly from races to enable the development of in-play betting markets during Grands Prix. The Financial Times newspaper suggested the packages could be worth $100 to Formula 1.Speaking in September, Sean Bratches, managing director of commercial operations at Formula 1, said the championship wants to enhance fan engagement through the partnerships and improved offering.Bratches added: “Data and sponsorship partnerships like this are common practice across almost all premium sports and this is the latest step in our mission to make Formula 1 the world’s leading sports entertainment experience.“This deal allows us to develop new and exciting ways for Formula 1 fans around the globe to engage with the world’s greatest racing spectacle, while ensuring integrity with best practice oversight from Sportradar.”Image: emperornie Email Addresslast_img read more

F1 to launch in-play betting data service with Sportradar and ISG

first_imgSports betting Subscribe to the iGaming newsletter F1 to launch in-play betting data service with Sportradar and ISG AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter The Formula 1 World Championship motor-racing series is to launch a live in-play betting offering via an agreement with sponsorship and data rights partner Interregional Sports Group (ISG) and Sportradar.Using exclusive data from F1, Sportradar will initially offer 30 unique markets during qualifying and on each race day, such as race winner, podium places and top 10 finishes.The offering will be expanded throughout the season with the addition of other bets, including race head-to-heads and pole position head-to-heads.As part of the agreement, Sportradar will provide its Integrity Services to help protect the sport from potential risks of match-fixing.The new service, which was first trialled as part of an exclusive partnership, is due to launch ahead of the 2020 season.“The potential for pre-race and in-race betting is huge and F1 itself is developing in a way that will continue to fuel opportunities for additional markets,” ISG Group joint chief executive Tony Ragan said.“The potential for the betting markets was perfectly illustrated at the French GP where Sebastian Vettel who, despite a later tyre change, secured the fastest lap in the dying seconds of the race.”David Lampitt, managing director of sports partnership at Sportradar, added: “F1 remains an untapped market for bookmakers, despite it being one of the richest data driven sports in the world.“This partnership enables us to roll out enhanced data-driven products, which will provide additional betting opportunities both prior to and during live races, creating the most comprehensive offering available anywhere.”The new service comes after ISG in March also rolled out a free-to-play betting game as part of its official partnership with F1. The game utilises data collected and distributed by Sportradar, with also having the right to sub-license betting partnership rights to selected gambling brands worldwide.Image: emperornie 5th August 2019 | By contenteditor Topics: Sports betting Email Address The Formula 1 World Championship motor-racing series is to launch a live in-play betting offering via an agreement with sponsorship and data rights partner Interregional Sports Group (ISG) and Sportradar.last_img read more

Pennsylvania betting handle passes $300m in November

first_imgAddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Subscribe to the iGaming newsletter Pennsylvania betting handle passes $300m in November Email Address Pennsylvania’s regulated sports betting market saw handle grow beyond $300m for the first time in November, thanks to a soaring mobile contribution, while online casino benefitted from a leap in table games stakes. Pennsylvania’s regulated sports betting market saw handle grow beyond $300m for the first time in November, thanks to a soaring mobile contribution, while online casino benefitted from a leap in table games stakes.Amounts wagered on sports across all channels amounted to $316.5m for November, a 31.2% improvement on the prior month, according to the figures from the Pennsylvania Gaming Control Board. This was driven by online betting, which accounted for $266.7m, or 84.3%, of the total. Retail’s contribution was also up month-on-month to $49.7m, though handle is growing at a slower rate than the state’s online market. From these stakes, operators generated revenue of $20.6m, though with operators doling out promotional credits worth $5.9m to players, the total taxable revenue for the month stood at $14.7m, down marginally from October. Looking at the performance of individual licensees, Valley Forge Casino, partnered with FanDuel, has raced far ahead of the competition, with stakes totalling $153.0m, up 29.6%. This was wagered almost entirely online, which accounted for $149.7m (97.9%) of the total. From these stakes, Valley Forge held $5.8m as taxable revenue after promotional credits, the highest total of any licensee. Coming in a distant second – in terms of amounts wagered at least – was Rivers Philadelphia, the property formerly known as SugarHouse Casino. Players wagered $41.3m through the property’s retail and mobile offerings.However, higher player winnings resulted in a month-on-month decline in revenue, which fell 41.3% to $1.6m. Parx Casino, despite total stakes of $30.5m giving it the fourth-largest handle, came in second in terms of total taxable revenue. Its $2.0m total after promotional credits set it ahead of the two Rush Street properties – Rivers Philadelphia and Pittsburgh. Read the full story, including a breakdown of Pennsylvania’s online casino market, on iGB North America. Tags: Card Rooms and Poker Mobile Online Gambling Race Track and Racino Slot Machines Topics: Casino & games Finance Sports betting Poker Slots Table games Horse racing Casino & games 17th December 2019 | By contenteditor Regions: US Pennsylvanialast_img read more

Football Index secures affiliate membership of IBIA

first_img21st October 2020 | By Robin Harrison While its business model marks it as separate from IBIA’s core sportsbook members, its affiliate membership will allow it to participate in the integrity activities run by the association. “Our customers have come to expect a high level of product security which we are determined to continue delivering,” Kelly explained. “As such, we are thrilled to join the IBIA. The association’s wide recognition as the preeminent global sports betting integrity body makes it the ideal partner for Football Index, as we strive to further place the integrity of our product at the heart of our business operations.”  The announcement of IBIA’s latest affiliate member follows the association announcing DraftKings has its latest full member. That agreement, announced last week, will also see DraftKings’ B2B arm SBTech gain access to IBIA’s monitoring and alert platform. Email Address Neil Kelly, chief executive of Football Index parent BetIndex, added that maintaining the integrity of its operations remained “paramount” to the operator.  Football Index, the online betting platform that allows users to trade on the future success of football players, has joined the International Betting Integrity Association (IBIA) as an affiliate member. Launched in 2015, Football Index markets itself as a stock market for football players, and operates under licences from the British and Jersey Gambling Commissions. The business is also active in sports sponsorship, with its branding appearing on Championship clubs Queens Park Rangers and Nottingham Forest’s kits. AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwittercenter_img Topics: Social responsibility Sports betting Sports integrity Online sports betting Sports integrity Football Index secures affiliate membership of IBIA Tags: International Betting Integrity Association IBIA Football Index “The company’s operation may differ from traditional sportsbooks, but it is no less committed to maintaining the integrity of its product and the sporting events on which it is based,” IBIA chief executive Khalid Ali said. “Football Index’s integrity ethos therefore aligns with IBIA’s and its membership is another example of the association’s wide-ranging appeal and burgeoning roster of companies engaging with it globally.” Subscribe to the iGaming newsletter Regions: UK & Irelandlast_img read more