first_img KCS-content Share whatsapp Tags: NULL FINANCIAL TIMESVODAFONE BALKS AT BEING FORCED SELLERVodafone’s chief executive has warned that he will not be “forced” into selling the UK group’s minority stakes in four mobile phone operators. Vittorio Colao insisted that the sale this month of Vodafone’s 3.2 per cent stake in China Mobile for £4.3bn ($6.7bn) was not done in response to investor pressure, and called on shareholders to be patient about other possible disposals.IMMIGRANT CAP HITS ECONOMY, SAYS CABLEImmigration limits are costing the UK thousands of jobs and hurting the country’s fragile economic recovery, Vince Cable said, in scathing comments that lay bear tensions on the issue within the coalition. A lot of damage is being done to British industry,” the business secretary said.COMPUTERS SET FOR QUANTUM LEAPA new photonic chip that works on light rather than electricity has been built by an international research team, paving the way for the production of ultra-fast quantum computers with capabilities far beyond today’s devices. Future quantum computers will be able to pull important information out of the biggest databases almost instantaneously. IMPACT OF BANK RULES LIKELY TO BE 30 PER CENT TOUGHERThe full impact of the new global bank capital rules announced at the weekend is likely to be 30 per cent tougher than the headline ratio suggests, according to regulators and industry participants who have studied private banking data. The data model the impact of earlier rule changes approved by the Basel Committee on Banking Supervision narrowing the definition of what banks can count towards core tier one capital ratio.THE TIMESREVENUE FLOATS PLAN TO CUT OUT EMPLOYERS AND TAKE TAX DIRECTLY HM Revenue & Customs is considering plans to deduct tax directly from workers’ pay packets before salaries reach their bank accounts. There was widespread incredulity last night that HMRC, which has come under fire for its handling of the Pay as You Earn fiasco, had included a proposal in a discussion paper in which it — rather than employers — would determine workers’ tax payments.OFCOM TO CRACK £2M WHIP OVER NUISANCE CALLSCompanies that bombard people with “silent” calls could be fined up to £2 million after the Government gave Ofcom more firepower to crack down on persistent offenders. The telecoms regulator has been frustrated in its attempts to punish companies that make such nuisance calls.The Daily TelegraphRON MAIDEN FRONTMAN BRUCE DICKINSON LANDS NEW AIRLINE JOBThe Iron Maiden frontman Bruce Dickinson has been named the new head of marketing at Astraeus Airlines. Mr Dickinson has landed the job at the Gatwick-based Astraeus Airlines, which leases planes and crews to carriers including British Airways, Bmi and easyJet. He is already well known to Astraeus. Between gigs, Mr Dickinson flies its aircraft – running up 7,000 hours on Boeing 737 and 757 jets.SAINSBURY’S TAKEN TO COURT OVER EXCESS PACKAGINGSainsbury’s is to be taken to court for using too much packaging, the first time that a major retailer has been prosecuted under obscure environmental laws. Trading Standards officers have said that the supermarket has broken 2003 regulations. WALL STREET JOURNALTOTAL SEES DELAYS AFTER BP SPILLOil-exploration projects in the Gulf of Mexico will take 20 per cent longer than prior to the Deepwater Horizon oil spill, as tougher regulation leads to delays in granting approval for exploration drilling, according to the head of French oil company Total SA. Total Chief Executive Christophe de Margerie said oil companies faced higher costs as US authorities took longer to issue drilling permits.ACS TO BID $3.55BN FOR GERMANY’S HOCHTIEFSpanish construction giant Actividades de Construccion y Servicios SA said it wants to buy a majority stake in German construction-services provider Hochtief AG, a move that would improve its geographical reach and allow it to cut costs. ACS has been Hochtief’s largest shareholder for almost four years. whatsapp Show Comments ▼ WHAT THE OTHER PAPERS SAY THIS MORNING 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 PastNoteabley25 Funny Notes Written By StrangersNoteableyMoneyPailShe Was A Star, Now She Works In ScottsdaleMoneyPailSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesBrake For ItThe Most Worthless Cars Ever MadeBrake For ItBetterBe20 Stunning Female AthletesBetterBemoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comautooverload.comDeclassified Vietnam War Photos The Public Wasn’t Meant To Thursday 16 September 2010 9:09 pmlast_img read more

first_img Svenska Spel president and chief executive Patrik Hofbauer has called for a ban on the lottery betting industry in Sweden, describing the continued legality of the business model as “incomprehensible.” Svenska Spel chief calls for ban on lottery betting Regions: Europe Nordics Sweden 28th November 2019 | By Daniel O’Boyle Topics: Legal & compliance Lottery Svenska Spel president and chief executive Patrik Hofbauer has called for a ban on the lottery betting industry in Sweden, describing the continued legality of the business model as “incomprehensible.”In a statement posted on Svenska Spel’s website yesterday (27 November), Hofbauer argued that lottery betting operators’ business models would not be permitted in other industries.“It is incomprehensible that [lottery betting] may continue,” Hofbauer said. “I can’t think of any other industry where it’s okay to use competing companies’ products as their own business. The shadow gaming companies cannibalise on well-known lotteries without owning the brands themselves that they market and sell.”Hofbauer said he hoped that this complaint is addressed when the Swedish Gambling Market Investigation Board (Spelmarknadsutredningen) presents its results of an investigation into the country’s re-regulated market, which opened on 1 January 2019.Hofbauer added that he felt that lottery betting, which he referred to as “shadow gaming,” is confusing to customers, who may not realise that they are not simply playing the lottery itself.“‘Deposit 25 SEK and get 100 SEK to bet on Lotto’ advertises, for example, one of the shadow gaming companies,” Hofbauer said. “Only further into the site does it become – hopefully – clear to the player that it is not Svenska Spel’s Lotto or another lotto draw but you are betting on the outcome of the lottery. The shadow game companies simply go low on incorporated brands.”“At the same time, it is very doubtful if customers understand what kind of game they are participating in. You should almost be a game technology expert to understand what betting on the outcome of lotteries means.”Hofbauer said the investigation was important as major reforms such as the Swedish re-regulation can include unintended consequences.“When the new Gaming Act was announced in Parliament in 2018, an investigation was also set up to monitor the effects,” Hofbauer said. “It was a wise decision. As the conditions for a market are fundamentally changed, it is necessary, after a while, to verify that the reforms have really provided the positive effects that the Riksdag [Sweden’s legislature] and the government have wanted to achieve.”“I think everyone is aware that there are sometimes negative side effects of major changes. Often it is about rogue players seeing an opening that the legislature had not foreseen. This does not mean that the re-regulation in itself is bad, only that it is extremely difficult to predict in advance all conceivable loopholes.”Hofbauer said he believed that lottery betting companies also violate the Swedish Gaming Act, which declares that the lottery market should be reserved for public benefit and the state.Hofbauer cited the example of Denmark as one country which already has banned lottery betting.In October, Hofbauer gave his backing to a ban on betting markets that can be influenced by a single player in a match, such as corners and yellow and red cards.center_img AddThis Sharing ButtonsShare to LinkedInLinkedInShare to FacebookFacebookShare to TwitterTwitter Email Address Subscribe to the iGaming newsletter Legal & compliancelast_img read more