Barclays to buy Egg credit card assets

first_img Barclays to buy Egg credit card assets Tuesday 1 March 2011 3:11 am John Dunne Tags: NULL Barclays is to buy the British credit card assets of online bank Egg from US lender Citigroup for an undisclosed price, as part of plans to boost its retail banking business.“The acquisition of Egg’s UK credit card accounts has been priced at a significant discount to gross receivables. Based on current projections, we expect the transaction to exceed the financial return targets set out at our recent results announcement,” finance director Chris Lucas said.Barclays will integrate the Egg accounts into its Barclaycard credit card division. It added it expected that the deal would be completed during the first half of this year.For Citigroup, the disposal of the Egg assets forms part of the American bank’s programme of selling non-core businesses after Citi received a huge US government bailout during the credit crisis.Citi acquired Egg from British insurer Prudential in 2007 for £575m and the American bank had been looking to sell Egg for some time.Citi said the Egg sale was expected to result in an after-tax gain, which would not be material to its net income. Show Comments ▼ whatsapp Share whatsapp More From Our Partners Florida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMark Eaton, former NBA All-Star, dead at 64nypost.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orglast_img read more

FSA to banks: Cut returns and dividends

first_img Tags: NULL 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 whatsapp THE FSA has warned banks that they might have to cut their targets for returns on equity (RoE) in order to meet a capital surcharge for major financial institutions.It has also said that it will remain “vigilant” to banks taking “excessive risks in an attempt to maintain return on equity”.In its annual Prudential Risk Outlook, the FSA warned that banks will only be able to achieve the necessary capital ratios “provided dividend payout rates are not excessive” and by restraining pay.FSA chairman Lord Turner (pictured) also reiterated that he favours counting capital in the form of equity rather than debt, saying: “There is a significant global support for an element of equity. The argument that equity is the best form of [capital surcharge] has significant support around the world.”Turner’s view makes it likely that if UK banks are allowed to use forms of debt to fulfil their core tier one capital requirements, they will have to be convertible into equity if their capital ratios fall too low and might have to use a highly cautious “exchange rate” for the conversion.Banks are keeping a keen eye on the different forms of capital-raising available, with Credit Suisse having already gone ahead with two rounds of contingent convertible (co-co) bond issuances in order to fulfill Swiss regulatory requirements. Simon Morris of law firm CMS Cameron McKenna said: “The FSA has gained a name for its poor grasp of macro-prudential regulation. There is the consequent risk that the FSA report is unduly negative because it is compensating for having missed the macro-prudential warning signs of the last crisis.”At the launch of the prudential outlook report, David Rule of the FSA’s macro-prudential team also estimated that UK banks’ exposure to Japan runs as high as £136bn. KCS-content Share FSA to banks: Cut returns and dividends Show Comments ▼ Thursday 17 March 2011 9:14 pmlast_img read more

Tullow in $2.9bn Uganda deal

first_img 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 PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBetterBe20 Stunning Female AthletesBetterBeDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldPeople TodayNewborn’s Strange Behavior Troubles Mom, 40 Years Later She Finds The Reason Behind ItPeople TodayElite HeraldExperts Discover Girl Born From Two Different SpeciesElite Herald OIL explorer Tullow has agreed to sell stakes in its Ugandan operations to France’s Total and China’s CNOOC for $2.9bn (£1.8bn), bringing in big partners to develop the oil fields.Tullow said it agreed to sell each company a one third interest in fields around Lake Albert, which Tullow estimates to contain 1bn barrels of oil, and potentially as much as 3.5bn barrels. Tullow will retain a third share.Analysts said the price was in line with expectationsThe deal leaves unresolved a massive tax dispute with the government. Uganda’s energy minister Hilary Onek said the country would receive a total of $472m in taxes from the farmdown deal. Tullow, however, said this figure was calculated incorrectly and that it believes the total liability to be “significantly less” than the $141m it has agreed to deposit with the government pending discussions on the matter.Additionally, Tullow, Total and CNOOC have agreed to deposit $313m with the government while Uganda pursues Heritage Oil, Tullow’s former partner in the fields, for $404m in taxes the government says is due on the sale of its interests to Tullow.Tullow said it expected this money would be repaid but it was unclear if the companies will receive any interest on the deposit while the Heritage dispute rumbles on. The matter is expected to take a year to settle.Tullow said up to $10bn will be spent developing the field, partly on the construction of a small refinery and a pipeline to the East African coast – activities in which the oil explorer has little experience. KCS-content Tullow in $2.9bn Uganda deal Tags: NULL Wednesday 30 March 2011 8:26 pm center_img whatsapp whatsapp Show Comments ▼ More From Our Partners Why people are finding dryer sheets in their mailboxesnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgConnecticut man dies after crashing Harley into live bearnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.com Sharelast_img read more

Stalemate in Libya as Gulf markets rally

first_img Tags: NULL KCS-content More From Our Partners A ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comAstounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgMatt Gaetz swindled by ‘malicious actors’ in $155K boat sale boondogglenypost.comFeds seized 18 devices from Rudy Giuliani and his employees in April raidnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comKiller drone ‘hunted down a human target’ without being told tonypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com‘Neighbor from hell’ faces new charges after scaring off home buyersnypost.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comConnecticut man dies after crashing Harley into live bearnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com Stalemate in Libya as Gulf markets rally Sunday 3 April 2011 11:32 pm whatsapp KEY oil town Brega was at the centre of clashes in Libya yesterday, as rebels fought Gaddafi’s troops for control of the eastern settlement and coalition warplanes launched targeted attacks.Fighting in Brega has been at a stalemate for several days, with Western air power failing to give insurgents the upper hand in clashes. A Western coalition air strike killed 13 rebels late on Friday near the settlement’s eastern gate. The rebel leadership said that the bombing was an unfortunate mistake, and that air strikes were still needed against Gaddafi’s better-armed units.Meanwhile, reports yesterday suggested Libya’s deputy foreign minister Abdelati Obeidi had flown to Athens with a message for the Greek Prime Minister George Papandreou. A meeting was expected to take place late last night, raising hopes of a diplomatic solution to the war.As Nato assumed control of coalition forces, the UK said it had sent diplomats on a fact-finding trip to meet rebel leaders in Benghazi – the insurgents’ stronghold in the east.Meanwhile, thousands of Syrians called for freedom at the funeral of eight protesters yesterday after President Bashar al-Assad named a former agriculture minister to form a new government.Unrest also continued in Yemen yesterday, where two protesters were reported to have died when police used live ammunition and tear gas to disperse anti-government protests in Taiz, south of the capital Sana’a. Despite ongoing turmoil across the Middle East, Gulf markets have made positive gains in the past week, as their political risk premium appeared to decline. Both the Egyptian and Omani bourses made small gains yesterday, with Egypt up 1.7 per cent – the fifth time in seven sessions that it has risen. Crude oil was at a 30-month high in New York on Friday, with May deliveries hitting $107.94 a barrel. Share whatsapp Show Comments ▼last_img read more

Ocado hires eBay executive

first_imgTuesday 12 April 2011 8:02 pm Show Comments ▼ KCS-content 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 PastMoneyPailShe Was Famous, Now She Works In {State}MoneyPailSenior 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 Timesmoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comDrivepedia20 Of The Most Underrated Vintage CarsDrivepediaZen HeraldThe Truth About Why ’40s Actor John Wayne Didn’t Serve In WWII Has Come To LightZen HeraldBetterBeDrones Capture Images No One Was Suppose to SeeBetterBe Ocado hires eBay executive Share More From Our Partners Inside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.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.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comcenter_img Ocado has added eBay executive Doug McCallum to its board. He joins the online grocer as a non-executive director on 3 October. McCallum is currently European senior vice-president of eBay and previously ran the internet giant’s UK business for several years. Ocado chairman Lord Grade added: “Doug’s high-level background in e-commerce and IT is a most valuable addition to the skills and experience of the existing directors.” whatsapp whatsapp Tags: NULLlast_img read more

BNY Mellon sees its revenues jump but misses some forecasts

first_imgTuesday 19 April 2011 9:04 pm BNY Mellon sees its revenues jump but misses some forecasts BANK of New York Mellon (BNY Mellon), the world’s largest trust bank, saw its first-quarter fee revenue rise 12 per cent year-on-year to $2.8bn (£1.7bn), a slip of five per cent from the last quarter.Its profits climbed to $625m, up from $559m the year before but lagging behind some analysts’ expectations. Its assets under management (AUM) also climbed 14 per cent to $25.5 trillion, offsetting damage done to fixed income funds by near-zero interest rates.Executives at the bank said yesterday it intends to continue its share buyback scheme. Last month the company said it will raise its quarterly dividend by 44 per cent and buy back $1.3bn worth of shares. The company said it wanted to buy back 47m shares, or about four per cent of shares outstanding. “[It is] a very effective way of returning capital to our shareholders,” a spokesman said.The bank splashed out around $4.4bn on acquisitions in the last year with a focus on overseas expansion. Share 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 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 Tags: NULL whatsapp whatsapp Show Comments ▼last_img read more

Wai-Kiki by Iron Dog Studio

first_img Wai-Kiki by Iron Dog Studio Topics: Casino & games Slots Casino & games 25th May 2018 | By Louella Hughes Subscribe to the iGaming newslettercenter_img AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Aloha! Pack your bags because it’s time to escape to Hawaii with Iron Dog Studio’s latest release Wai-Kiki. This one of a kind slot puts you at the heart of the party! Look out for sharks that lie under the waves, they may have some Jaws-dropping instant prizes for you. When the sun goes down its time for free spins, collect tokens and you’ll have a shot at some Mega Wins. Are you ready for Summer!? Aloha!Play a demo version here.last_img

Social attraction

first_img Social attraction Topics: Marketing & affiliates Strategy Subscribe to the iGaming newsletter Tags: Online Gambling Marketing & affiliates Email Addresscenter_img 25th February 2019 | By Stephen Carter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter With bonuses in the sights of politicians, regulators and taxmen across Europe, operators’ search for alternative ways of improving player loyalty is leading them in the direction of social media plaforms. Joanne Christie reportsWhile the industry may have been broadly welcoming of the regulation of the Swedish market this year, there was one aspect of it pretty much everyone took issue with: the fact that it meant operators were only allowed to offer one bonus to players as an introductory offer.With the go-to player retention tool of bonusing taken off the table, Sweden-facing operators have been looking at other ways to improve player loyalty, as have operators across many other jurisdictions thanks to advertising clampdowns.While a number of ideas have been floated around as possible solutions, panellists at one of the sessions at ICE –Taking your brand far and wide in a post-advertising ban and post-Cambridge Analytica market –felt that social media was not only a way ofincreasing retention in Sweden and beyond,it was also perhaps a means to wean the industry off its focus on acquisition. Mr Green’s managing director Magnus Alebo told the audience. “The power in social is all about retention. It is not about acquisition and the focus in this industry for a long, long time has been so focused and oriented on acquisition and you sort of deal with the churn rates.“But I think now with social and the industry becoming more and more mature, everybody is starting to understand that this is really a retention challenge and retention opportunity that we have and that is where social comes into play.“We are now slowly, slowly learning how to use social tools and how to build our own social features and functionality and connection to interact with and retain our customers.”Go where your customers are Yana Tsyganova, managing director for Norway at Betsson, added that social media was growing in relevance. “What is interesting to notice is that our customers’ behaviours are changing, our own behaviours are changing and so the landscape of what is paid media is changing as well.“As an operator we need to make sure we follow the landscape trends and are actually present where our consumers are and social media is a very interesting one because we as customers ourselves and our customers are in social media all the time.”Of course, before the Swedish market officially opened up, opportunities to use platforms such as Facebook to their full potential were limited as gambling advertising was not allowed.“As an operator having been primarily dealing with unregulated markets in the past, social media has been very much earned attention. There haven’t really been any official opportunities to use social media,” added Alebo.While the first bonus rule was something no one was happy about, one of the things operators expressed optimism about under the new regulated market in Sweden was the opportunity to use more digital marketing channels.Irena Busic, communications director at LeoVegas, says: “The regulated market opens up new marketing possibilities within Google, sponsorships, Facebook, etc. In general we believe that the marketing will be even more tilted to online marketing then before. “Social media should definitely be seen also as a retention driver, and we will measure the contribution to those KPIs when evaluating the return on investments.” Battlefield ahead Initially, however, that return on investment might not be as high as operators would like, says Asbjorn Bieling, head of marketing at Gaming Innovation Group in Copehhagen, who predicts advertising prices will be high.“For the paid channels it is going to be very exciting when Google and Facebook start allowing paid promotions because it is probably going to be a battlefield and it will be exciting to see who survives and who doesn’t.”Indeed, Tsyganova said during the ICE panel that results were not always as expected. “The fact we are now digitalising paid media is very interesting for us because all of a sudden we can now measure all of the returns on investment.“Some of it is a bit shocking I must say, in a good way or a bad way, but it means that we can actually make much more educated choices. We can target our consumers much better and we can be more relevant, which is very important for our business.” One reason the results of paid social campaigns are sometimes not as good as earned social efforts is because they are less personalised, says Asaf Cohen, VP of revenue at Optimove.However, he adds that this does not have to be the case. “I definitely think that paid social can be better utilised. For example, operators can hyper-personalise Facebook campaigns using Custom Audiences, to segment players and serve highly relevant communications, significantly increasing their likelihood to engage.”While obviously it’s too soon to know how things will play out in Sweden, Cohen says he looked at the company’s data from the UK, where bonusing has become more expensive over the past year due to bonuses being taxed, and found there was little change in operators’ attempts to use social media for retention.One reason for this, he speculated, is the lack of expertise CRM teams might have with social channels. Traditionally, social channels have been the territory of acquisition teams.“In many brands, acquisition teams heavily rely on social media to acquire new players. However, CRM teams utilise their own channels, tools and measurements, and rarely rely on social channels for retention.”This is further compounded by the separation between teams at many operators, Alebo told the ICE panel. “The way we’ve organised ourselves oftentimes internally is in silos – there’s a department responsible for NDCs or FTDS and that is their own KPI to go after. “Then you have the retention team and the tech team and that needs to change. And that is something that we are changing now at my company. We are changing the KPIs that people are measured on and we are mixing up the teams and I think that is where you need to get to, where you work on new KPIs.”Whether or not social media could be the panacea for the igaming industry’s retention challenge remains to be seen. But it seems to be increasingly being seen as something that has potential to provide at least part of the solution. With bonuses in the sights of politicians, regulators and taxmen across Europe, operators’ search for alternative ways of improving player loyalty is leading them in one direction. Joanne Christie reportslast_img read more

Belgium prepares to implement igaming ad ban

first_img Regions: Europe Western Europe Belgium Subscribe to the iGaming newsletter 29th May 2019 | By contenteditor AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Tags: Mobile Online Gambling Belgium prepares to implement igaming ad ban Casino & games Belgium’s licensed igaming operators are facing a number of significant restrictions on advertising, with a package of controls approved in October 2018 coming into force this Saturday (June 1). Belgium’s licensed igaming operators are facing a number of significant restrictions on how they may advertise their offerings, with a package of controls approved in October 2018 coming into force this Saturday (June 1).From June 1, online gaming operators will no longer be permitted to advertise their offerings on Belgian television. This covers A+ and B+ gaming licence holders, or casino and gaming hall licensees.These operators will only be allowed to advertise via sites licensed by the Belgian Gaming Commission (BGC), or via personalised advertising, which uses user behaviour and interest data to target players.Sportsbook licensees, or F1+ licence holders, will only be permitted to advertise on television after 8pm, and may not advertise around live sports broadcasts.In addition, operators will be prohibited from using celebrities or athletes to promote their sites, and a cap on bonus offers will be introduced.“This ban is a step forward for the limitation of advertising for games of chance,” BGC president Etienne Marique said.The move is the latest in a series of planned or implemented restrictions on gambling advertising introduced in Europe this year. Italy has already brought into force a blanket ban on gambling advertising, with exceptions for land-based gaming venues.There is also a loophole that allows sites to provide information about gambling, which has already been hailed as an opportunity for affiliates by Gambling.com Group.Elsewhere, Sweden has moved quickly to crack down on what it believes is excessive advertising by its newly licensed operators, with a government committee to explore the practicalities of a total ban. Spain’s Socialist Worker’s Party (PSOE) is also looking to introduce a number of new restrictions on gambling advertising, with the party in the process of forming a government following April’s general election.UK operators, meanwhile, will introduce a ban on advertising before and during live sport broadcasts from the start of the 2019-20 football season. GVC Holdings, owner of the Ladbrokes and Coral brands, is pushing for a total TV ad ban, however. Topics: Casino & games Legal & compliance Marketing & affiliates Sports betting Email Addresslast_img read more

Newgioco stock trades on NASDAQ

first_img Betting technology supplier Newgioco has started trading on NASDAQ, the world’s second-largest stock exchange. Subscribe to the iGaming newsletter AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Finance Newgioco stock trades on NASDAQ Betting technology supplier Newgioco has started trading on NASDAQ, the world’s second-largest stock exchange.The Company’s common stock will continue to trade under the symbol “NWGID” until 13 January, when the symbol will change to “NWGI”.“The listing of our common stock on the Nasdaq is a major milestone for the company and the result of approximately twenty years of dedicated business development in the regulated leisure betting industry,” Michele Ciavarella, Newgioco chief executive officer, said.“We believe that listing on the Nasdaq should broaden our shareholder base by attracting new investors, enhance Newgioco’s visibility in the marketplace and liquidity of our stock, and ultimately, build long-term shareholder value.Read more on iGB North America. Email Address Tags: Online Gambling 8th January 2020 | By Daniel O’Boyle Regions: US Topics: Financelast_img read more