Fat cat pay cheques push up the cost of civil service

first_img 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 Show Comments ▼ whatsapp SURGING pay for public sector fat cats is pushing civil servant staffing costs out of control, according to a report published today by government watchdog the National Audit Office (NAO). Rising wages for those at the top accounted for half of a 10 per cent increase in costs over and above inflation since 2000, the report says.It also shows that the cost of bonuses for the best-paid has risen to £200m compared to virtually zero 10 years ago. The increasing costs are despite a one per cent decrease in headcount to 493,000 staff over the decade.Wage costs have swelled even more in the public sector overall: a 13 per cent surge in headcount since 2000 has seen costs balloon 40 per cent above inflation. There are now over 45,000 civil servants in the top two pay grades and 390 earning over £125,000 a year.The NAO blames “poor control over the numbers and roles of higher-grade staff” for costs of £16.4bn last year. And the figures show that while pay is rising at the top, the bottom 34 per cent remain on salaries of between £15,000 and £20,000. In response, the NAO recommends that the state makes greater use of bonuses linked to performance. Fat cat pay cheques push up the cost of civil service Share Tags: NULL KCS-content whatsapp Thursday 10 March 2011 9:00 pmlast_img read more

CITY MOVES | WHO’S SWITCHING JOBS

first_img Share whatsapp CITY MOVES | WHO’S SWITCHING JOBS whatsapp Irwin MitchellThe national law firm has appointed Sue Weatherson as its new director of risk and compliance. Weatherson joins from Withers LLP and will report to Irwin Mitchell’s national managing partner, John Pickering. Weatherson will have overall responsibility for ensuring the firm complies with its regulatory requirements and managing risk. She replaces partner Louise Sykes, who will now lead Irwin Mitchell’s Wills, Trust and Estate Disputes team.Macquarie GroupThe banking, investment and fund management services provider has appointed David Fass as chief executive of the firm’s operations in Europe, the Middle East and Africa. Fass joins Macquarie after ten years with Deutsche Bank in London, serving in roles including European head of Deutsche Bank’s global banking division.Russell InvestmentsThe equity index provider has hired two new associates to its EMEA index team. Gareth Parker has been appointed as director of index research and design, and Stephane Degroote has joined as regional director of sales. The new roles have been created to support the expansion of Russell’s European index business, following the appointment of Scott Stark to the role of director of Russell Indexes Europe.Unicorn AMInvestment management company Unicorn Asset Management has appointed Fraser Mackersie as co-manager of its Free Spirit Fund. Mackersie has been promoted from the firm’s Investment Team.Ropes & GrayPeter Baldwin is joining the global law firm’s private equity practice as a partner in London. Baldwin joins Ropes & Gray from Jones Day in London, where he was a partner in the corporate group. Prior to that, he was a partner at Cadwalader, Wickersham & Taft.Saxo BankSaxo Bank Group has reappointed Steen Jakobsen to the position of chief economist, after a period of two years’ absence where he worked at Limus Capital Partners. Prior to his departure from Saxo in early 2009, Jakobsen was with the firm for almost nine years. Show Comments ▼ KCS-content Sunday 13 March 2011 10:16 pm Tags: NULL 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 Wraplast_img read more

Galleon witness testifies

first_img Galleon witness testifies Tags: NULL More From Our Partners Native American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comMark Eaton, former NBA All-Star, dead at 64nypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comWhy people are finding dryer sheets in their mailboxesnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.com Show Comments ▼ Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeMisterStoryWoman Files For Divorce After Seeing This Photo – Can You See Why?MisterStoryUndoMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailUndoTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSenior Living | Search AdsNew Senior Apartments Coming to Scottsdale (Take A Look at The Prices)Senior Living | Search AdsUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoBetterBe20 Stunning Female AthletesBetterBeUndoPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayUndoHistorical GeniusHe Was The Smartest Man Who Ever Lived – But He Led A Miserable LifeHistorical GeniusUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndo A DISGRACED former McKinsey & Co partner has testified that Galleon fund manager Raj Rajaratnam paid him a $1m (£617,856) “bonus” for tipping him about an acquisition by chip-maker Advanced Micro Devices (AMD), a client of the consulting firm.Anil Kumar told jurors yesterday he supplied confidential details about AMD’s 2006 purchase of graphics chip-maker ATI Technologies to Rajaratnam, who is on trial on criminal charges of running a vast insider trading network.“He called me at home and he said, ‘I just wanted to thank you. That was fantastic, we are all cheering you at the office right now,’” Kumar testified in Manhattan federal court. “That made me very nervous.”Prosecutors in the trial are expected to name David Palecek, a McKinsey partner who died last year, as a third target for Raj Rajaratnam to recruit to his alleged insider trading ring. center_img Monday 14 March 2011 9:26 pm Share whatsapp KCS-content whatsapplast_img read more

Smiths News sees profit lift

first_img 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 WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe 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 Show Comments ▼ Share KCS-content whatsapp Tags: NULLcenter_img Newspaper and magazine distributor Smiths News first-half underlying pre-tax profit rose 11 per cent on cost cuts, and the company said it expected the royal wedding to boost its magazine sales in the second half. September to February underlying pre-tax profit was £19.2m, compared with £17.3m last year. Revenue, however, fell 5.2 per cent to £872.3m, hurt by lower sales at its books business, Bertrams. The company has set out a cost-efficiency programme to save £20m by 2013. Smiths News shares have shed 27 per cent since the company warned in October that it was cautious about its recovery prospects. Wednesday 13 April 2011 8:04 pm whatsapp Smiths News sees profit lift 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 PastSenior 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 TimesMoneyPailShe Was An Actress, Now She Works In ScottsdaleMoneyPailmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaBetterBeDrones Capture Images No One Was Suppose to SeeBetterBeZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen Heraldlast_img read more

Japan worries dampen economy

first_img whatsapp Show Comments ▼ Thursday 14 April 2011 8:01 pm Tags: NULL whatsapp Share Japan’s earthquake and tsunami last month continue to hit the country’s economy as Japanese business confidence plunged in April, the Reuters Tankan survey showed yesterday. The manufacturing and service-sector sentiment indices tumbled to negative territory for the first time since last year, as the percentage of pessimistic respondents outnumbered the optimistic ones. 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 WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap’Small Axe’: Behind the Music Everyone Grooved On in Steve McQueen’sThe 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 Japan worries dampen economy KCS-content last_img read more

Telia sees profits slip slightly

first_imgTuesday 19 April 2011 7:59 pm whatsapp TeliaSonera, the Nordic region’s biggest telecoms firm, posted slightly lower than expected first-quarter core profit and sales yesterday and cut its 2011 revenue growth forecast. Ebitda excluding one-offs were 8.8bn Swedish crowns (£860m) versus a forecast of 8.9bn last year. Revenues were 24.7bn crowns against a forecast of 25.4bn and Telia said it now sees net sales in local currencies and excluding acquisitions growing around three per cent this year, down from its previous forecast of four per cent. Tags: NULL Telia sees profits slip slightly More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSidney Crosby, Alex Ovechkin are graying and frayingnypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.org980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comKamala Harris keeps list of reporters who don’t ‘understand’ her: reportnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.com whatsapp Show Comments ▼ KCS-content Sharelast_img read more

Better Collective secures first post-IPO acquisition

first_img Subscribe to the iGaming newsletter Better Collective is already reaping the benefits of its recent IPO after generating the funds to acquire the owner of German sports betting affiliate leader Wettbasis.The company has bolstered its position in German-speaking jurisdictions with the €36m (£32m/$42m) takeover of Bola Webinformation, which comes a year after it bought the owner of Sportwettentest and Wettfreunde, Sportfreunde. Bola Webinformation generated annual revenue of approximately €9m in 2017, with earnings at €6.5m.Better Collective floated on the Nasdaq Stockholm last month, with its prospectus valuing the company at up to $182.6m.While the company is headquartered in Denmark and traded in Sweden, Better Collective’s director of business development, Marc Frank Pedersen, told iGamingBusiness.com that Germany is a market of particular interest for Better Collective.“The predominant reason why we wanted to list on the stock exchange was to raise funds for a continued acquisition strategy,” Pedersen said. “The acquisition of Bola is a natural part of this strategy – and we will continue to acquire other quality companies in the future.“With the acquisition last year of Sportfreunde and WettPortal, we took that position a step further.“Building on the success of those two acquisitions, we have been very keen on expanding our presence in Germany. With Bola, we managed to acquire the biggest brand in sports betting affiliation in Germany, and being a market leader in the biggest market in Europe is of course very important to us.”After a series of acquisitions in the last year, CEO Jesper Søgaard (pictured) last month told iGamingBusiness.com that the company selected the IPO route as it allowed the existing management team to “remain in control”.Meanwhile, Better Collective remains bullish about the German betting market’s Fifa World Cup performance despite the holder’s early exit from Russia 2018.Better Collective said World Cup traction has remained “strong” following Joachim Low’s team’s departure in the group stage and it is “very positive” about the remainder of the tournament.“Needless to say, we would have preferred to keep Germany in the World Cup for a few more games,” Pedersen said. Better Collective secures first post-IPO acquisition Marketing & affiliates 2nd July 2018 | By contenteditor Topics: Marketing & affiliates Regions: Europe Nordics Denmark Tags: Online Gambling AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Better Collective has snapped up the owner of German sports betting affiliate leader Wettbasis Email Addresslast_img read more

Playtech confirms Penrose appointment

first_img Tags: Online Gambling Topics: People Penrose will join the company’s board on September 1 Playtech has this morning (Tuesday) confirmed the appointment of Ian Penrose as a non-executive director amid reports that he has been lined up to take over as chairman.Penrose served as chief executive of Sportech from 2005 to 2017, prior to which he had a spell in the same role at Arena Leisure from 2001 until 2005.In addition, Penrose is currently non-executive chairman of England’s National Football Museum in Manchester, as well as a strategic and operational adviser to Alizeti Capital on the acquisition of the UK Tote.Penrose will join the Playtech board on September 1 and become a member of the Audit, Risk and Compliance, Remuneration and Nominations committees.Playtech chairman Alan Jackson said: “Ian led the business turnaround and international repositioning at Sportech and will bring knowledge of the US gambling market in particular, having led strategic initiatives in the region over the last eight years, and has been personally licensed in several states.“His deep sector experience makes him a valuable addition and we look forward to working with Ian, who will bring a fresh and insightful perspective to board discussions.”Confirmation of the appointment comes after reports at the weekend suggested Penrose was being lined up to take over as chairman at the company.According to The Times, Penrose is viewed internally as a long-term replacement for Jackson, whose position as chairman has come under scrutiny in recent times.In May, 35.2% of investors voted against re-electing Jackson, who has been in the role since 2013.Playtech, which issued a profit warning last month, is due to post its financial results for the first half of the year on Thursday. Email Address 21st August 2018 | By contenteditorcenter_img Subscribe to the iGaming newsletter People Playtech confirms Penrose appointment AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitterlast_img read more

Parx Casino targets sports licence in Pennsylvania

first_imgCasino & games Subscribe to the iGaming newsletter Hollywood Casino at Penn National Race Course has also applied 28th August 2018 | By contenteditor Regions: US Connecticut Pennsylvania Parx Casino targets sports licence in Pennsylvania Parx Casino has submitted a formal application for a licence to offer legal sports betting in Pennsylvania, having already been successful in a bid to launch online gambling in the state. Greenwood Gaming & Entertainment, the owner of Parx, put forward the latest application on behalf of the property, which now joins the Hollywood Casino at Penn National Race Course in applying for a licence. In addition to Parx, Greenwood is seeking permission from the Pennsylvania Gaming Control Board (PGCB) to offer legal sports wagering at its South Philadelphia Turf Club off-track betting facility. Documents seen by Legal Sports Report suggest that should Greenwood succeed in its application, Parx could be offering sports betting services before the end of the year. The PGCB has already said that despite various other states having introduced regulated sports betting in recent weeks, Pennsylvania is unlikely to do so prior to the start of the NFL American football season in September. Greenwood would not obtain a licence until September at the earliest, when the PGCB will next meet to discuss all new applications. Operators that do secure a licence face a combined 36% tax rate, comprising a 34% state tax and 2% local tax. Parx has already been successful in obtaining an online gaming licence in the state, having put forward a joint application with GAN. Meanwhile, Connecticut Governor Dannel Malloy has suspended talks with two Native American tribes over sports betting regulation, with the state set to miss out on legalisation this year. Malloy is keen to push ahead with regulation and said that the two tribes were “within days” of an agreement to amend their gaming compact. However, according to the Connecticut Mirror, Malloy said that disagreements among legislators will delay the process until the next scheduled legislative session in January. “I don’t think circumstances have changed dramatically, except that the Republicans in the legislature have indicated they don’t want come to come into session on this topic,” Malloy said. “Unless that changes or unless the Democrats say they want to come in, then there wouldn’t be a session. There would be no reason to continue negotiations.”Image: VegasCasinoKid Tags: OTB and Betting Shops Topics: Casino & games Legal & compliance Sports betting AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Addresslast_img read more

Albanian gambling clampdown intensifies

first_img Albanian gambling clampdown intensifies Regions: Europe Baltics Albania Albania’s hostile environment for gambling is set to intensify after the country’s Prime Minister, Edi Rama, said that betting shops and casinos would not be allowed to operate in residential areas from the start of next year.Rama, who has previously supported the introduction of regulations clamping down on online gambling, said that all premises where bets can be placed should relocate to the outskirts of cities from residential areas by December 31, according to the Transitions Online news website.The order gives operators less than three months to find new bases, with many expected to struggle to find appropriate locations in such a short time period.Additionally, the Prime Minister (pictured) warned media outlets that if they fail to stop showing adverts of unregulated gambling services, they would be “closed by force”.Rama has led a campaign against gambling in Albania since his socialist party swept to power five years ago in a landslide election victory. Within five months of his triumph, some 1,300 betting premises had undergone inspections, with many being closed down due to allegations of financial mismanagement.In his latest announcement, Rama boasted that tax revenue had increased from €32m (£28m/$37m) to €47m since he came to power, even though the number of casinos in the country had halved from 40 to 20.There had been hopes of a timely boost for operators in Albania when, in July, the government submitted plans to reduce the tax rate from 15% of gross gaming revenue to 15% of gross earnings. However, President Ilir Meta vetoed the proposal, sending it back to parliament for further consideration.“The implementation of the legal changes would only benefit gambling businesses at a time when the expected effects on the state budget or household economy are negative,” Meta said at the time, according to the Tirana Times newspaper.“The gambling business model does not produce added value for society. On the contrary, the expansion of this industry brings potential risk of making Albanian households poorer whilst causing social upheaval.”Albanians reportedly spent €132m on gambling in 2017 – a 10% year-on-year increase – even though, with a population of under three million, Albania’s GDP of $12.7bn places it as one of the poorest countries in Europe.However, a report by the national audit committee said that the state had failed to collect about €395m in fines levied on operators who had failed to fulfil certain regulations between 2014 and 2016. Subscribe to the iGaming newsletter Tags: OTB and Betting Shops AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Albania intensifies hostility to gambling with Prime Minister saying betting shops and casinos will not be allowed to operate in residential areas 11th October 2018 | By contenteditor Topics: Casino & games Legal & compliance Casino & games Email Addresslast_img read more