Forget the Olympics; last Wednesday, ExecutiveSurf's Central and European Team were narrowly defeated (cheated), at 10 pin bowling by the Mediterranean team. Top scorer was Ignacio Villarrubia, but unfortunately Spain have been knocked out of the Olympic football tournament. A 17-year-old has been arrested in Weymouth after malicious tweets were sent to Olympic diver Tom Daley. Chevrolet signs up as next Man Utd shirt sponsor. Unilever has appointed former Barclaycard marketer Sarah Mansfield to head its marketing services team as media director for the UK and Ireland. Yahoo's interim CEO Ross Levinsohn departs. ALTERNATIVE INVESTMENT GROUP The company appointed Sanford Brown as managing director of business development. Brown, whose appointment is effective July 30, was previously a director of sales and marketing at Larch Lane Advisors, an affiliate of Old Mutual Asset Management. LONDON & CAPITAL The independent wealth management firm appointed Pau Morilla-Giner as chief investment officer. Morilla-Giner joined London & Capital as head of equities, commodities and alternative investments in 2008. He started…
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Microfinance is mostly spoken about in relation to developing countries, but there is evidence that it is also much needed in ostensibly wealthy countries, like the UK. The HM Treasury estimated that in 2008, there were approximately two million adults, in 1.3 million households, that did not have a bank account. More than 80% of the population live in urban areas, so living off your crops is not a common lifestyle and the service sector is the main driving force of the economy. As a result, living on cash, without possessing a card or access to credit becomes inevitably stressful, especially if you need to make a large payment, maybe for accommodation or education. There are different reasons why some people may not own a bank account, but the main barrier comes down to a lack of collateral. In order to cover risk, banks demand that you have a full-time job or assets, such as a property or significant savings. This may be a successful…
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· Osborne urged to act as UK recession deepens · Moody’s threatens German banks · EU leader calls for more cash for 2013 budget · Geithner claims Libor fiasco is fault of the British · EC plans make Libor fiddling a crime · Eurozone demand for credit slumps · Asian stocks rise on hopes US Fed will act · European markets seen mixed · Sterling falls on GDP figures · British gas gets a boost as wind turbine subsidy cut · Hong Kong’s bullion vault opens to deal with Asian wealth
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Chancellor urged to quit as GDP slumps. Biggest ever drive to attract business to Britain launches. Virgin Media ad starring Usain Bolt blocked by BT. Virgin Media and BT's battle over broadband speeds has escalated after the ad watchdog banned a Virgin Media television ad starring Usain Bolt pretending to be Richard Branson. Sky recruits Harry Redknapp to front fantasy football campaign. Skype hires former Yahoo CMO Steele to top marketing role. CITIGROUP INC The bank said David Silber joined as a managing director and head of flow equity derivatives sales. He joins from Jefferies & Co. Peter Lambrakis will also join the firm as a managing director, head of equity derivatives trading. He joins from Deutsche Bank. JP MORGAN CHASE & Co The investment bank appointed Rayan Fayez as head of its investment banking business in Saudi Arabia. Fayez was head of investment banking at Goldman Sachs in Saudi Arabia. DYNASTY FINANCIAL PARTNERS The New York-based wealth management start-up hired a former Morgan Stanley…
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UK BUSINESS leaders, economists and politicians demanded a new economic strategy from the government yesterday, claiming its approach had been shown up as a failure after GDP nose-dived in the second quarter by 0.7%, meaning the UK is now in the longest double-dip recession for more than 50 years. MOODY’s last night changed its outlook on 17 German banking groups to negative because their ratings incorporate support from the German state. The change follows Moody’s decision earlier in the week to change the outlook on German sovereign ratings to negative from stable. EU LEADER Jose Manuel Barroso demanded more cash from member states yesterday, arguing the budget increases they offered are not enough. Barroso called for 6.8% increase on the year for the 2013 budget, but state leaders voted for a 2.79% rise. AMERICAN authorities did all they could to warn British regulators over flaws in the Libor system, as far back as 2008, the defiant US Treasury secretary Timothy Geithner told politicians in Washington…
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By the time you read this, the Olympic Opening Ceremony may have already taken place, on 27 July. Danny Boyle's spectacular, The Isles of Wonder, involves 10,000 volunteers, apparently recreating the British countryside, in the Olympic Stadium, complete with wildlife, clouds, artificial rain and Sir Paul McCartney. The wildlife worries me. Let's hope it went better than the ceremony at the 1998 Seoul Olympics, where, after the official lighting of the Olympic Flame, thousands of doves were released, many then promptly incinerated in front of a worldwide audience of billions. There will be over 10,000 athletes, from 204 nations, converging on the London Olympic Village. No newspaper is now complete without an article covering the fact that 150,000 condoms are being provided for these athletes (an Olympic record already). Talking about the sexual Olympics, US world-record-holding swimmer, Ryan Lochte, who will be in London for his third Games, says: “I’d say it’s 70 to 75% of us Olympians at it.” Apparently the dining room is…
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UK may be drawn into Syria conflict. Shock as GDP shrinks by 0.7%. Oddbins' anti-Locog stunt offers discount for wearing Nike trainers. The boss of Oddbins has attacked the "asinine rules" on mentioning the Olympics in marketing and has introduced a 30% discount for customers who wear or display a total of eight items from non-sponsor brands, including Nike and Pepsi. Paddy Power has started legal proceedings against Locog after the organiser of the London Olympics told JCDecaux to take down billboards promoting the bookmaker's sponsorship of an athletics event in London, France. Ofcom unveils plans for 4G network to reach consumers in 2013. Virgin Media reaches one million TiVo customers as revenues rise 4.2%. JP MORGAN CHASE & Co JPMorgan Chase & Co has appointed Rayan Fayez as the head of its investment banking business in Saudi Arabia, the U.S. investment bank said on Wednesday. Fayez was head of investment banking and chief executive officer for Goldman Sachs in Saudi Arabia prior to his…
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· Greece and Spain spark Euro fear · Small banks fear rule squeeze · Finland pleased with Moody’s · Deutsche bank reveal slump in profit due to Euro weakness · Britain’s economy seen stuck in recession in secondquarter · Stock futures slide on Apple results · U.S. treasuries hit new low · Euro holds longest losing streak since May · Oil trades below $90 a barrel for the third day on supply gain · Indonesian tofu producers may halt production as soybean prices surge
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Britain 'hotter than the Sahara' as temperatures reach 30C. Rebekah Brooks and Andy Coulson among eight journalists to be charged over phone hacking. O2 ends 10-year Arsenal sponsorship. David Beckham kicks a ball into a drum to signal the beginning of the London 2012 Olympic Games in a new TV ad for worldwide sponsor Samsung. Paddy Power, the bookmaker, is to sponsor an egg-and-spoon race in London, Burgundy, next week and has dubbed the event 'the largest athletics event in London this year'. It is 'morally wrong' to pay tradesmen cash in hand, says David Gauke, apparently a Treasury minister. Amazon to open digital innovation hub in East London. Mail Online makes its first profit in June 2012. Sky poaches Liz Darran for senior marketing role. MEC hires Vizeum's Dan Plant as first real time planning director. Aviva marketer Kevin Peake exits role. Immediate Media, publisher of Radio Times and Olive, has appointed Tony Macklin, the former Procter & Gamble executive, to a top strategy…
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· Euro crisis back as Spain feels the heat · China’s energy giants snap up British assets · SME miss-selling probe spreads to more UK banks · Troika to assess Athens progress · Exporters growing more worried about sterling strength · Resurging Eurozone worries spark stock sell off · Nikkei hits six week low on Spanish worries · Euro near 11 year low versus the yen · LNG goes an extra 9,800 miles as Europe spurs record rates · Europe heat wave wilting corn adds to U.S. Drought
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