Index Financial

A political storm blew up after Conservative politicians accused government officials of not properly understanding Olympic sponsorship.

The magazine Marketing Week reports the Department for Culture, Media and Sport (DCMS) wrongly promised £100m in private funding to athletes in 2006, as it incorrectly thought it could offer up sponsorship opportunities to firms.

Quoted by the publication, David Wyatt, DCMS parliamentary private secretary, said “none of this was understood in 2006″ in relation to the lack of rights his department had to give to organisations looking to be linked with the event.

Conservative MPs hit out at the mistake and questioned where the £100m would now come from.

Quoted by Marketing week, shadow secretary of state for culture media and sport Jeremy Hunt MP said he feared what other “basic miscalculations” would emerge.

The magazine has previously reported that the DCMS had no method in place to fill a £100m hole in the finance for UK Sport, responsible for funding Britain’s top athletes.

Sponsorship rights relating to the Olympics are complex and help by a number of different bodies.

Rights over global marketing belong to the International Olympic Committee and domestic rights are owned by the London Organising Committee for the Olympic Games.

Article supported by Physioroom.com, Vulkan suppliers.

For many, Valentine’s Day is a special opportunity to show someone you care. Research by PayPal shows the average Brit will spend more than £70 on their loved one, with £71.25 being the average.
Over 23 million people in the UK are expected to spend a combined total of £1.6 billion for their heart’s desires. On February 14th nearly 33% of shoppers buy gifts worth between £50 and £99 - a number which rises to 44% among 18 to 24-year-olds.
The survey by PayPal also found that 22% of those who responded were willing to spend between £100 and £249 on Valentine’s Day.
Cristina Hoole, a spokeswoman for PayPal, said, “It would seem that romance is far from dead as almost half of Brits will be splashing out a massive £1.6 billion on their loved ones this week.”
Consumers may find an unexpected source of funds to woo and dazzle their Valentine; according to Thrifty Scot, people holding equity in property may find homeowner loans exactly what Cupid needs to spend a little extra on a heart-throb.

With Paragon Mortgages reporting a 19.4% increase in rents last year, many landlords are confident about the rental market of 2008. The last three months of 2007 saw 8.1% of that overall increase, giving industry members plenty of reason to look forward to the promising financial returns in the new year.
Such data comes as good news for the industry and portends well for 2008, offered David Salisbury, Chairman of the National Landlords Association.
“The chances are that, in the coming months, there will be increasing demand placed on the private-rented sector and well-managed portfolios can only serve to benefit both tenants and landlords alike,” stated Mr. Salisbury.
He also noted research showed more than 25% of landlords predict the industry’s success will expand their portfolios not only in 2008, but for at least five years to come.
Homeownership loans are an excellent advantage to holding equity in property, according to Moneyfacts, which allow property owners to secure loans against a home and give much needed financial stability; especially as compares to spending money month after month on rent.

Energy provider E.ON, formerly known as Powergen, is joining the ranks of other fuel providers who have raised energy costs in the last few months. E.ON was slated to raise prices starting February 8th and customers could begin to see higher energy bills very soon, as predicted by a price comparison Web site.
Dual fuel customers of E.ON may see their average household bills rise from an average of £913 to £1,063, according to uSwitch.com.
Ann Robinson, Director of Consumer Policy at uSwitch.com, noted that all but one of the major suppliers has increased rates in recent months. Scottish & Southern Energy has pulled away from immediate price increases, and stated that it will delay any hikes until late March.
“With savings of up to £325 to be made, now is the time for consumers to really start making competition work for themselves,” Ms. Robinson offered. Placing additional financial strain on consumers during these tough economic times comes as an unwelcomed burden; so shopping prices could put some pressure on providers to remain as reasonable as possible.
As the cost of living and running households continues to increase, Britons may be inspired to take out debt consolidation loans this year, as noted in a recent Observer report.