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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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VIDEO: Dubai’s scandal-hit Godolphin stable

Category : Business, World News

Described as the biggest crisis to hit horse racing for years, the revelation that 11 horses from the Godolphin stable had been given banned anabolic steroids has rocked the sport.

See the article here: VIDEO: Dubai’s scandal-hit Godolphin stable

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Man Utd star van Persie signs for BT

Category : Business, World News

BT Sport signs Manchester United’s Robin van Persie to be the publicity face of its advertising campaign for its live Premier League broadcasts.

More here: Man Utd star van Persie signs for BT

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Jockey Club launches Racecourse bond

Category : Business, World News

The Jockey Club has launched the country’s first-ever sport bond on offer to the general public

The rest is here: Jockey Club launches Racecourse bond

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Martin Rowson on the rich list and the London Marathon – cartoon

Category : Business

The Sunday Times’s annual naming of Britain’s wealthiest residents coincided with the running of the London Marathon

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BT Vision sets out its plans for a new look to televised rugby union

Category : Business

• Coverage will be more interactive and inclusive
• Lawrence Dallaglio aims to ‘decomplicate’ the game

The future shape of European club rugby remains shrouded in uncertainty but no one seems to have told BT Vision, the game’s proactive new broadcasters. Channel executives have made it clear they fully expect to broadcast top Heineken Cup games next year, heaping renewed pressure on European Rugby Cup organisers who have sold the TV rights to Sky.

Not only has BT Sport signed a £152m four-year deal to show Premiership and sevens rugby from September but it will also be broadcasting weekly games from France’s Top 14 competition. Lump it all together and there is no shortage of commercial muscle on their side. “Our view is that heading into 2014-15 we want to be part of that [European] competition, whatever that competition becomes,” said Grant Best, senior channel executive producer. “We did a deal for what we thought would involve that tournament.”

With ERC and Sky declining to back down, the European dispute is set to rumble on through the summer but a different look to televised rugby in England and France is already assured from next season. Lawrence Dallaglio, the first member of BT’s new rugby commentary team to be unveiled, believes there is huge scope to introduce rugby union to a new audience before the 2015 World Cup and is promising a more interactive edge to the coverage.

As well as using two vast studios at the Olympic Park broadcast centre, which will potentially allow live audiences to watch and participate in rugby shows, Dallaglio and his colleagues will attempt to demystify rugby’s darker areas and show the participants, referees included, in a more human light. Details of the pricing packages and the rest of the commentary line-up remain to be confirmed but BT Sport, which has also signed a multi-million deal to show Premiership football, stresses it wants to become “the home of club rugby”.

According to Dallaglio, one of the other key objectives will be to spread its net wider than it has traditionally done. “We need to get a little bit away from being seen as an elitist middle class sport and attract other viewers. The game has to de-complicate itself without losing the essence of what attracts traditional fans and put the viewers at the heart of the experience.”

Manchester United sell naming rights to training ground for £150m

Category : Business

• Club secure eight-year agreement with Aon
• United ‘will never sell naming rights to Old Trafford’

Manchester United have sold the naming rights to their training ground as part of a sponsorship deal with the insurance firm Aon, the club’s current shirt sponsors, estimated to be worth $230m (£150m).

The eight-year agreement with Aon starts in July – from when Carrington will be known as the “Aon Training Complex” – and is a further sign of the club’s off-field money-making abilities.

However, United have said that they will never sell the naming rights to Old Trafford. “Old Trafford will not be sold,” United’s executive vice-chairman, Ed Woodward, said on Sunday.

Aon’s name currently appears on United’s main match kit in a $130m, four-year deal but General Motors’ Chevrolet division takes over that sponsorship in a $559m, seven-year deal from the 2014-15 season.

Financial details of the new Aon deal were not publicly disclosed but it is estimated to be worth $230m over eight years and will also see the company provide United with business expertise.

United bought out their previous training kit sponsorship deal with the express delivery and freight firm DHL early in a bid to secure more cash, with that agreement having been worth around $65m over four years.

Sport-Haley Holdings, Inc. (SPOR: OTC Link) | Supplemental Information

Category : Stocks

Fri, Mar 08, 2013 06:21 – Sport-Haley Holdings, Inc. (SPOR: OTC Link) released their Supplemental Information concerning Disclosure Statement for the Quarter Ended 12-31-12. To read the complete report, please visit: https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=100724.

Follow this link: Sport-Haley Holdings, Inc. (SPOR: OTC Link) | Supplemental Information

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Adidas makes £231m Reebok write-off

Category : Business

Troubled sportswear division suffered fraud at its Indian unit, lost a major American football contract and had to endure the professional ice hockey strike

Sports group Adidas has been forced to write off €265m (£231m) at its troubled Reebok business during a year in which Reebok uncovered fraud at its Indian unit, endured a strike in the National Hockey League and saw a 10-year American football contract come to an end.

The writedown pushed the German-based business into the red by €239m over the last three months.

Adidas bought Reebok in 2005 for $3.8bn (£2.9bn) in an attempt to close the gap on bigger rival Nike but has now cut its 2015 sales target for the brand by a third after two quarters of declining sales.

Adidas sponsored the London Olympics and Euro 2012 championship, at a cost of £100m, and gains from those deals helped the firm famous for its three stripes logo recoup some of the losses from Reebok.

Sales in emerging markets are improving, but the economic downturn in western Europe has pushed sales down 4%, the company said.

Over the full year profits were down 3% to €920m.

An ill-fated push into muscle-toning shoes by Reebok was also disappointing. Adidas is now trying to focus the Reebok brand on the fitness sector, providing clothes and shoes for a range of activities from aerobics to yoga and dance.

Among Reebok initiatives was involvement with the Cirque Du Soleil Jukari: Fit to Flex workout, launched by supermodel Helena Christensen, left, in 2008.

The Indian fraud was related to financial irregularities by the company’s two most senior officials in the country, accounting for £160m-worth of losses.

Allegations against senior management led to a police investigation with accusations of over-inflated balance sheets during the merger of Adidas and Reebok in the country in 2011.

Reebok also lost a 10-year supplier deal with the National Football League, replaced by Nike to supply the American football franchises’ team kits for the next five years. Along the way it suffered defeat in a lawsuit against Nike over sales of some jerseys.

The loss of the contract is thought to be worth about $200m.

For 2013, Adidas said it expects sales to increase at a mid-single-digit rate from 2012′s record level of €14.9bn, though with a slower start to the year. Bosses will be focusing on 2014 with the World Cup in Brazil.

Despite the problems, there was a dividend increase of 35%, sending the shares up 6.6% to an all-time high on the German stock exchange.

Chinese chess grandmaster stranded in Gibraltar after being blocked from UK

Category : Business

Women’s world No 15 Ju Wenjun refused permission to board flight to London as she did not hold a transit visa

A top Chinese chess player has found herself stuck between the Rock and a hard place after an airline refused to allow her to board a flight to London following a tournament in Gibraltar because she did not hold a transit visa to enter the UK.

Ju Wenjun found herself stranded after taking part in the 11th annual Tradewise chess festival held in Gibraltar, having travelled there on 19 January via London from Hong Kong on a British Airways flight. However, when she went to board her return flight to China via Heathrow on 1 February, the day after her 22nd birthday, she was denied entry onto the flight.

“I don’t have a UK transit visa and they let me board (in Hong Kong). When I arrived in the UK, I told them I was going to play in Gibraltar at the Tradewise festival. I showed them my airline ticket and they let me pass through. They let me show my tickets and my invitation,” said Ju on the telephone from Gibraltar.

Ju is a grandmaster, ranked No 15 in international women’s chess and No 3 in China. The

tournament organisers, who have been rallying on her behalf, said she has been told she must send her passport to the UK to be issued a transit visa and then have it sent back to Gibraltar. But Ju doesn’t understand why she should have to go through this when she was allowed to pass through the UK in January on her way to the chess tournament.

“I don’t want to send my passport to the UK. It takes time, and my parents are worried about me,” she said. “I hope this will end soon.”

The tournament director, Stuart Conquest, said Ju is growing increasingly distressed about her extended stay on the Rock. “I think they should use a bit of compassion and let this girl go home. What is the point of making her send her passport to the UK? Everyone’s waiting for her in China,” he said.

A spokeswoman for the Home Office said that the UK Border Agency was not responsible for visa checks made by airline carriers outside the country. “It has nothing to do with us,” she said.

At the time of publication, British Airways was unavailable for comment.

Conquest says this is the first time any incident like this has happened to international players participating in the tournament in the 11 years it has been running.

In the meantime, Ju is being looked after by Conquest and others in Gibraltar, even being treated to a meal out – at Kowloon Chinese restaurant.

In pictures: Sporting trophy workshop

Category : Business, World News

The London workshop which makes some of sport’s biggest trophies

Read more here: In pictures: Sporting trophy workshop

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