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Since the launch of Fun88 in 2008, it has successfully merged
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Tottenham Hotspur Football Club today announced that fun88, a leading
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Tottenham Hotspur Announces Fun88 as Club’s Asian Betting and Gaming
The two year agreement, which begins immediately, will see the two
organisations work together to engage with Asian sports fans through a
range of online and offline activities which will include launching a
co-branded gaming microsite.
Daniel Levy, Chairman, Tottenham Hotspur, said: “We are delighted that
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Galileo, which had offices in London, owed creditors more than 2 million pounds ($3 million) when Centaur folded in 2012.
“There are opportunities in sports betting for individuals but I am not sure that a fund would be able to do much damage,” Blake said.
Priomha Capital Pty Ltd, an Australian hedge fund manager that bets clients’ money on sports, plans to relocate to Gibraltar by the end of the year to double the A$5 million ($3.9 million) it has under management.
Employing a method used by individual gamblers and syndicates, Priomha looks for value by tracking sports statistics against betting odds before and during matches. Former Centaur CEO Keith Sobey couldn’t immediately be reached for comment.
Melbourne-based Priomha’s multisports fund returned an average of 17 percent since 2010 by m88 betting all of the funds as often as twice a month, Chief Executive Officer Brendan Poots said in a telephone interview. The relocation will also bring tax advantages, he added.. Priomha employs three statisticians to work with traders, and bases as little as 20 percent of decision-making on “qualitative” judgment, such as the effect on a team of the injury of a key player, Poots said. Priomha uses computer models to wager on English Premier League soccer, as well as cricket, horse racing, golf and tennis.
Poots said he’s in advanced talks with Gibraltar’s Financial Services Commission about becoming a private fund, “a sort of traineeship” for 12 months, and then becoming an experienced investor fund.
Even if the fund’s model is effective, its expansion will be restricted by the volume of regulated betting in sports, according to Peter Blake, founder of Hook, England-based Bet Angel Ltd., which sells software to help individuals to wager on sports trading exchanges such as Betfair Plc.
Blake, who’s also a professional sports gambler, said it’s not possible to bet more than about 175,000 pounds on the Grand National, one of the U.K.’s biggest horse races, without distorting market prices.
Investors will have “a greater degree of comfort” after we move because hedge funds in Gibraltar are regulated more thoroughly than in Australia, according to Poots, a former cricketer who played for the U.K.’s Sussex. It hedges betting to offset potential losses.
The sports fund, which will target high net worth individuals and family offices, has expanded more cautiously than Galileo, a previous sports-gambling fund managed by Centaur Global Ltd., Poots said. Centaur overstretched itself while still working on such algorithms when it opened its sports fund in 2010, according to Poots
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Some $3.5 million was invested and three trainers came from Macau to coach the staff. (The Burmese view the renminbi as a more stable currency than their own kyat.) The government has cracked down on drug trafficking: there are three police checkpoints on the road leading away from Ruili to inland China, although cars going toward it aren’t stopped.
The heroin trade has also flourished in Ruili, along with all the ancillary businesses of bordertowns: casinos, gin joints, a glitzy bowling alley, “beauty parlors” and garish short-time hotels catering to bigger-spending debauchers. The daytime taxi shift is for losers. Its Chinese name was Sunbird; in Burmese it was known as Hua Ke, which incorporated the name of the Burmese group that owned it. A-Lian, wearing a deep-cut violet blouse, claims she is 20 years old. The garbage trucks don’t make their lazy rounds until noon. Huang, a foreign affairs administrative official, spends his days tracking down each and every foreigner in town to record passport details and ask questions such as, “Why did you go to the market today?” (Huang, who declines to give his full name, is polite, enjoys using English and says he meets lots of Australians.) The private sector can be even pricklier. (Two more are going up at the border itself, 7 km from downtown, one with a revolving restaurant.) The hegemony of apartment buildings is almost complete, creating a modern-looking town of white tiles with smoked or mirrored windows, topped by blue- or orange-tiled roofs. By day, Ruili doesn’t overly distinguish itself from the rest of China’s new urban scene or, for that matter, from a city in provincial Japan or Thailand.
The lights come on and Ruili becomes its real self. But the authorities objected to the Wild Man moniker, and currently it’s nameless. A parallel street has the same array; there are more a few blocks away. (Zhang, too, prefers not to be fully identified.) Ruili’s jade market is one of the busiest in the world: in small, open-front shops, workers sort polished pieces, filling the lanes with the sound of stone clicking upon stone. In Ruili, the banks stay open until 10 p.m., the hotel pool until 2 a.m., cafés and discos ’til 4:00. Ruili’s lifeblood, border trade, expanded as the Chinese market needed more Burmese raw materials, such as lumber, and as it produced more manufactured goods to send back across. An intense buyer wearing a sarong and gold bracelets paws through pieces, sorting them with overgrown fingernails, in search of stones that can be sold elsewhere in China for markups of 100% or more.
An old Chinese bromide goes, “The sky is high, and the emperor is far away,” and it’s easy to conclude that puritanical China has lost control at the outer reach of its empire. “We had only three banks in 1987,” recalls Zhang. The bedrock business, jade extracted from Burmese mines, got bigger and bigger with mainland prosperity. A Mr. Muse’s main claim to fame is a half-hour transvestite show offered to day-trippers each afternoon at 3 p.m. (Real estate prices have slumped; the prostitutes complain of receiving only one gentleman caller per night.) But Ruili is not exactly open. Those bank branches pull in lots of money from cross-border trade. Ruili residents scoff when asked if the lanes of cathouses are evidence of official slackness. “It ruins entire families,” says one resident of Kunming, the capital of Yunnan, whose 18-year old brother died from heroin addiction. The greater evidence is that Beijing likes Ruili just the way it is. A-Lian’s parlor is one in a long row of identical establishments. Bring a camera into a casino and you may find yourself surrounded by stern hoods silently menacing you off the premises.
One should notice, however, that there are no smokestacks outside Ruili, no cultural treasures in easy reach, no vital river or port. A lot of those are cash businesses, including jade, and Ruili (population 100,000) has a greater density of bank branches than most cities east of Zurich. Some say it was the table dancers that did it in, and that operations may someday resume. Wild Man, the town’s hottest disco, is still grinding out the Macarena and Ricky Martin hits each evening, and shirtless guys on the dance floor have earrings, tattoos and attitude. Off-pitch howls emanate from a surfeit of sidewalk karaoke bars. Last November, a grand casino opened in the underdeveloped Burmese town of Muse, a short walk from the border checkpoint. Beauty salons shutter at sunrise. China isn’t eager to publicize its raunchier fringe. Like border towns everywhere, Ruili’s is a purely service economy and its more important services aren’t available during the day. Today, you can’t throw a stone without hitting a branch of the Bank of China, the Agricultural Bank of China, the Industrial Commercial Bank of China, the Construction Bank of China–some have two branches on a single block. On a good night, she and her two colleagues attract a total of 10 customers. Private money has erected blocks of downtown buildings with stereo stores and no fewer than six Internet centers. Muse is but a shadow of Ruili: its hotels are nastier, its prostitutes far cheaper. (One displays a sidewalk sign with technicolor snapshots of the infections the careless can catch and, presumably, cure.)
There is one line that China doesn’t like crossed: when too much of the boomtown spoils are siphoned over the Burmese side of the border. Customers came across from Ruili. The better guess is that in today’s China, a little all-night sleaze and Wild West atmosphere is allowable as long as it’s a bit distant, not too publicized, profitable–and the moolah stays on China’s side of the border.
Ruili is typical of the mushroom effect of modern China: whatever existed in the slower days before Deng Xiaoping’s liberalizations has simply been allowed to multiply. The local government has laid down spacious avenues with bicycle lanes. (Look for smokers, or girls with unusually thin legs.)
The spread of HIV is harder to gauge. Yunnan is one of China’s most worrisome situations, and Ruili, with its access to drugs and proliferation of prostitutes, is as close to an HIV laboratory as one can find in Asia. The only real nighttown in the People’s Republic of China is open and ready for business.
But after a month of operation, revelers crossing back to their hotel one night were held by Chinese police in a lock-up–and Sunbird quickly shut down. That’s because the problem of drugs going through Ruili becomes one for China as a whole. The patter of casino dealers is broadcast onto the streets to lure gamblers up doubtful flights of stairs. The casino was going to change that situation. “People usually do this work for three years or less,” she says. Local toughs loiter outside, big bellies hanging over their sarongs. The doxies are sleekly groomed and ready for work: within faux beauty salons with names like The Grape Garden and The Red House–sometimes there’s no name at all, just a phone number–they stare languorously from plate-glass shopfronts in search of passing trade. “Families lose fathers, mothers and sons to drugs coming from border towns like Ruili.” But prematurely aged addicts can be seen staggering Ruili’s streets, and prostitutes are quick to tell visitors how to spot a drug-addicted competitor. A-Lian (“Lotus”) says she insists that customers use condoms during a $43 “massage.” She also emits a laugh when asked if any government agency comes by to provide education or condoms. Sunbird offered a greater range of games than other casinos, including wagering on dogfights, plus 10 table-dancers to round out the experience. Its bilingual tourist brochure invites visitors to enjoy “the tenderness of Dai madams and the smile of Jingpo girls”–neglecting the more numerous women from Burma and impoverished Sichuan province to the northeast–but whether a visitor indulges or not, he’s not encouraged to ask too many questions. Only at dusk do the streets suddenly fill with food stands, vendors with heavy baskets balanced on poles over their shoulders, pedal-cabs on the glide.
As can happen in fast-changing contemporary China, looks are deceiving in Ruili (pronounced ray-lee). The massage rooms are upstairs, above the equipmentless beauty parlor. The border had never seen anything like it.
A micro-Bangkok it may be, but Ruili maintains an atmosphere that is relaxed and small-town–perhaps a little too slow these days. “If they weren’t controlled,” says one recent migrant to Ruili, “there would be many more.”. The cement mixers have been here in a big way. The owners even spent $122,000 on gaming chips embedded with integrated circuits to prevent a counterfeit racket from springing up. The top-end hotel is modern and atrium-ed; around the corner a much larger one is under construction. You’re just as likely to hit one of the venereal disease clinics dotting the town. “Jade can be more profitable than heroin,” exults Zhang, a trader in Ruili’s jade market whose shop is jammed with uncut boulders of up to 500 kg. (So, implausibly, do both of her fellow workers.) She’s originally from a peasant family in Sichuan. “I’m going to do it for only one year more.” The customers are mostly walk-ins, men from other parts of China en route to the gambling joints
It’s no coincidence that Lane is a former COO of Oracle.
Last Updated Oct 4, 2010 3:08 AM EDT
Moreover, in a conference call on Friday, Apotheker was clear that software would be top-of-mind for H-P, going forward:
HP had several good internal candidates–but instead they pick a guy who was recently fired because he did such a bad job of running SAP. And the fastest and perhaps only way to become competitive with Oracle and IBM is with an aggressive acquisition strategy. Okay, let’s talk about that. And Oracle chief Larry Ellison said he was “speechless,” although I doubt that’s ever been true. Looking further out, we believe the most likely outcome is for HP to buy SAP, which gets the company Sybase and enterprise data street credentials.” He did go on to say he didn’t expect that to happen anytime soon.
The troika of IT is integrated or bundled hardware, software, and services.
H-P competitors IBM and Oracle are strong in software – H-P’s Achilles heel.
Apotheker is a 20-year veteran of enterprise software maker SAP, which has had its struggles in recent years.
H-P also appointed Kleiner Perkins managing partner Ray Lane as non-executive chairman. In any case, it’ll be interesting to see how the H-P saga turns out in the end.
Ergo, H-P’s board is making some big bets on software. Today, Oracle is nearly twice SAP’s size and profits are two and half times that of SAP. His tenure as chief of SAP was, simply put, a disaster. So be it. In 2002, when Apotheker was promoted to SAP’s executive board, SAP and Oracle were about the same size in terms of revenue. That leaves visionless H-P the odd man out. But if you look at it from a management standpoint, the picture changes rather dramatically for the following reasons:
Apotheker has no successful CEO experience. Nevertheless, the unexpected move does reveal a great deal about H-P’s strategy, which seems to be leaning toward a bet-the-company megamerger with SAP.
Just look at the obvious facts:
Image CC 2.0 courtesy Flickr user Ret0dd
On Friday, Hewlett-Packard surprised everyone by announcing the appointment of Leo Apotheker as the company’s new top executive. All Rights Reserved. SAP’s board dumped him in February.
Some say that Apotheker’s roughly two-year tenure as SAP CEO or co-CEO doesn’t tell the whole story of his career at the company. And, as Ellison correctly pointed out, H-P’s board passed over several excellent internal candidates, more or less killing their chances to land the top job. That seemed to work out pretty well.
Instead of choosing a competent CEO, it appears that H-P’s board chose a strategy. Software is how we can make sure that various parts of our technology actually fit well together.
So, looking at it this purely in terms of competitive positioning, it all makes sense. And we believe that software is sort of the glue to make that happen. But you know, the trouble with merging two distressed companies is that, ofentimes, they just end up becoming one really big distressed company. So a merger between H-P and SAP makes a lot of sense.
In fact, Peter Goldmacher, an analyst with Cowen and Company, said, “We would not be surprised to see HP and SAP get closer. It’s sad, really.
Bottom Line: Philosophically, I think a board’s function is to hire a competent and capable executive, not determine company strategy. Only time will tell if they screwed up yet again. For example, IBM’s board had no idea what strategy Lou Gerstner would recommend for IBM when they picked him to fix their flailing company; they just had faith in his abilities.
I believe H-P should be more valuable than the sum of its parts. The madness must stop.
I happen to share Ellison’s view of H-P’s board, which I think is chronically dysfunctional and screwed up royally when it forced out former CEO Mark Hurd.
© 2010 CBS Interactive Inc.. The HP board needs to resign en masse — right away. That portends a potential mass exodus of executive talent. The combo makes sense. In an email to the Wall Street Journal, the verbose billionaire went on to say:. Numbers don’t lie.
Whether H-P buys SAP or not, the culture clash between a German software executive and a Silicon Valley IT giant are worlds apart. On his watch, software license sales fell off a cliff, dropping a whopping 28 percent and forcing the company’s first big layoff. It’s telling that IBM considers Oracle it’s primary threat and vice versa. And, if the companies do merge, the culture clash and the challenges it presents are that much greater.
With this appointment, H-P seems to have completely given up on having its own vision and carving its own path in the market. After all, Apotheker had just been ousted by German enterprise software maker SAP back in February.
Wall Street responded by making H-P the biggest loser of the day among Dow components. Instead, the board has chosen to follow IBM into services and both IBM and Oracle into software
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“Why the hell do all of these girls make a beeline to you?” I smiled.
Mind you, I was in upstate New York, in Plattsburgh and near the Canadian border and most of the clients at said strip joint were college students with disposable incomes. I make about 14 cents an hour through Google Adsense while writing for HubPages (I figured this out using the abacus you saw above).
“Bullshit,” another one of my suite mates said. And if you think I’m rich, you must be hitting the Sake pretty hard. One of my suite mates then asked me, . This misconception can be traced to the fact that in general, Asians are very careful with their money as for the most part Asian immigrants like most immigrants that come to America after having been raised impoverished. “It’s because you’re Asian. Okay, so maybe my cohorts had a point, but I went there with no money, yet got service with a smile. They think you’re loaded.”
“I don’t know…Maybe because I’m cute?” Laughter was heard.
Again, in accordance with my own experiences during my college years when I was practically kidnapped and brought to a strip joint (a.k.a a skin store) by my suite mates on my birthday, the “representatives” there flocked over to me more frequently than usual and inquired if I wanted a lap dance or not
The scientist spoke on condition of anonymity because of the sensitive nature of the issue.
A watchdog group now is raising questions about whether the replacement triggers, also known as pits, can be guaranteed to be as reliable as those already in some 400 W88 warheads. The original triggers were made with the benefit of underground nuclear testing, which the U.S. She posed that question in a letter last Friday to Energy Secretary Samuel Bodman.
The Project on Government Oversight says it was told by some Los Alamos scientists that the trigger certified last July and known as the W88 pit needed 72 waivers from the specifications used for the original triggers, including 53 engineering-related changes.
Precise manufacture of the trigger is essential.
The new ones were made by using a mold to cast the grapefruit-size plutonium sphere. The last of the original triggers were manufactured in the late 1980s.
“With this large number of waivers, how is it possible to objectively tell whether the pit will even work?” said Danielle Brian, executive director of the group that monitors nuclear weapons-related activities. Because the United States no longer conducts underground nuclear tests, the Los Alamos scientists had to rely on other sources to replicate the original triggers and guarantee that the replacements would be as reliable as the old. The original triggers, all made at the now-closed Rocky Flats facility in Colorado, were hammered into precise form. It meant the warheads, after testing that makes the original trigger unsuitable for reuse, could be reassembled with a new trigger and put back into service.
In a warhead’s detonation, a conventional explosive packaged around the pit compresses the plutonium inward, creating enough pressure for an atomic chain reaction. These means included small-scale plutonium tests, technical data from past underground tests, and computer codes and models.
Since last summer’s announcement, the Los Alamos lab has made 10 additional W88 triggers. So far, nine have earned the “diamond stamp” from the National Nuclear Security Administration, which oversees the lab’s programs. Such approval means they are ready to use.
Resting atop the Trident II missile, the W88 warhead is among the mainstays of the country’s submarine-based nuclear arsenal. This process is viewed by metallurgists as producing a stronger product.
Any variation or flaw in the pit could cause a warhead not to detonate properly or to detonate with less explosive power than expected.
The government acknowledges differences between the old triggers and their replacements.. For years, however, testing the warhead’s components to ensure the weapon produces the intended blast instead of a fizzle has been complicated by a lack of replacement plutonium triggers.
Last summer, the first replacement plutonium trigger in 18 years received “diamond stamp” approval signaling it was ready for use in a warhead. That, in turn, creates the high temperatures and pressure to ignite a “secondary” nuclear component. To scientists at Los Alamos National Laboratory in New Mexico, that was a milestone to celebrate. halted in 1992, and through a different process than the replacements. The result is a a massive hydrogen blast.
At least one other replacement pit required 71 specification waivers, a Los Alamos scientist indirectly involved in the production process told The Associated Press
U.S. Tomahawk Missiles Deployed Near China Send Message. Is this considered a threat to the Chinese government ?
Four of the 18 ballistic-missile subs no longer carry nuclear-tipped Trident missiles. More alarms were likely sounded when the U.S.S. Instead, they hold up to 154 Tomahawk cruise missiles each, capable of hitting anything within 1,000 miles with non-nuclear warheads. superweapon had suddenly surfaced nearby. “There’s been a decision to bolster our forces in the Pacific,” says Bonnie Glaser, a China expert at the Center for Strategic and International Studies in Washington. U.S.S. military has used repeatedly against targets in Afghanistan, Bosnia, Iraq and Sudan. And the Klaxons would have maxed out as the U.S.S. The 14 Trident-carrying subs are useful in the unlikely event of a nuclear Armageddon, and Russia remains their prime target.
That’s why alarm bells would have sounded in Beijing on June 28 when the Tomahawk-laden 560-ft. In all, the Chinese military awoke to find as many as 462 new Tomahawks deployed by the U.S. Florida surfaced, also on the same day, at the joint U.S.-British naval base on Diego Garcia, a flyspeck of an island in the Indian Ocean. Michigan arrived in Pusan, South Korea, on the same day. But this one was different: for nearly three years, the U.S. military in the Pacific.)
Source : http://news.yahoo.com/
If China’s satellites and spies were working properly, there would have been a flood of unsettling intelligence flowing into the Beijing headquarters of the Chinese navy last week. Their capability makes watching these particular submarines especially interesting. A new class of U.S. But the Tomahawk-outfitted quartet carries a weapon that the U.S. “There is no doubt that China will stand up and take notice.” . Ohio popped up in the Philippines’ Subic Bay. (See pictures of the U.S. It was an Ohio-class submarine, which for decades carried only nuclear missiles targeted against the Soviet Union, and then Russia. Navy has been dispatching modified “boomers” to who knows where (they do travel underwater, after all). in its neighborhood
(The asteroid that hit the planet 66 million years ago wiped out the dinosaurs because of very bad timing, researchers say.). Asteroids?
A Malmstrom Air Force Base missile maintenance team removes the upper section of an ICBM at a Montana missile site. (AP Photo/US Air Force, John Parie)
Saying nukes are needed to defend the planet “may be an excuse for keeping the nuclear arsenal together,” he says.
Authorities say the warheads are being kept “pending a senior-level government evaluation of their use in planetary defense against earthbound asteroids,” reports the Wall Street Journal, which found the information “tucked away” on the 67th page of a Government Accountability Office report on the National Nuclear Security Administration.
Scientists believe it will be at least a century before any asteroids big enough to wreck the planet are close enough to worry about, but some researchers are worried about smaller asteroids and believe nuclear weapons could be an effective solution, the Atlantic reports.
Somebody’s been watching Armageddon: American nuclear authorities say they have delayed getting rid of old warhead components because they could help protect the world from killer asteroids.
More From Newser
But that runs the risk of having radioactive debris hit Earth, and a Purdue University professor tells the Journal that there are probably better ways to ward off asteroids, including a “gravity tractor” that could change their course.
This article originally appeared on Newser: US Keeping Nukes in Case of ..
And, according to a statement from the labs, the W88 Alt 370 is cleared to move forward.
What happens when you drop a nuclear warhead on concrete?
By Mark RockwellNov 04, 2014
Sandia National Labs’ 185-foot Drop Tower Facility near Albuquerque, N.M., was used to gather data on the durability of the W88 ALT 370 warhead.
The Critical Radar Arming and Fuzing Test (CRAFT) was the first flight test of a prototype radar for the W88 ALT 370. It also will use the information to validate computer models designed to apply the results to other drop scenarios, since it’s not possible to replicate every possible accident in tests, according to the lab.
About the Author
Mark Rockwell is a staff writer covering acquisition, procurement and homeland security. The June CRAFT test, according to Tim Edwards, manager for the program’s technical basis and qualification activities, was the first of several planned tests intended to demonstrate the upgraded system’s performance. It was also the first flight test unit Sandia and its partners, Los Alamos National Laboratory, the Kansas City Plant, and Pantex, delivered to the Navy for full-scale testing under the program.
Sandia said it will use vibration and shock measurement data from the test to update specifications for components in the weapon. Contact him at email@example.com or follow him on Twitter at @MRockwell4.
The second test was more straightforward — and possibly a little alarming, if you’re not familiar with nuclear weapons design tests.
Gathering data for the latest nuclear warhead design is as nuanced as gathering intricate computer modeling data from flight tests and as brutally honest as dropping a nuclear warhead’s shell onto a concrete slab to see if it breaks.
In its first “drop test” of the W88 warhead since 1987, Sandia researchers hoisted an unarmed version of the weapon’s re-entry body on a crane and dropped it almost 200 feet to smash onto a concrete slab below.
Researchers at Sandia National Labs, who are responsible for validating designs, improving computer modeling and updating component specifications for the W88 Alt 370 (alteration), have finished gathering data from two tests for an upgraded version of the US W88 nuclear warhead used in the Trident II submarine-launched ballistic missile.
The test is designed to replicate a crane accidentally dropping the re-entry body onto a concrete surface, according to the lab and helps develop evidence that the shell would remain safe during an accident. The test was conducted at Sandia’s 185-foot Drop Tower Facility near Albuquerque, N.M., using the same handling gear a crane would use to move the weapon.
. CRAFT demonstrated how the radar performed during re-entry through plasma generated by the hypersonic speeds at which the warhead travels
* Benchmark VLCC rates tumble to 2012 low of W38.86
SINGAPORE, July 3 (Reuters) – Rates for dirty tankers on key
Asian freight routes are expected to hover near this year’s low
as an oversupply of vessels overshadows Chinese demand for
Middle East crude, ship brokers said on Tuesday.
“Chinese contract fixing continued to make up a significant
portion of the market activity that did take place, whilst the
few spot cargoes that emerged received multiple offers from the
flotilla of vessels seeking employment,” said broker firm SSY.
“With cargoes being drip-fed into the market, rates show no
sign of improving,” said broker firm ICAP.
* Ample tanker availability overshadows Chinese demand
Rates on the benchmark very large crude carrier (VLCC)
export route from the Middle East to Japan dropped to
this year’s low of W38.86 on Monday, down 7 percent from W41.89
last week as ample tanker availability outweighed support from
Chinese demand. The market has fallen for seven consecutive
Rates for 80,000-tonne aframax tankers from Southeast Asia
to East Coast Australia edged down to W88.63 from W89.06
* Clean tanker rates surge 14 pct from last week
The Baltic Exchange’s rate for 260,000-tonne crude tankers
from West Africa to China fell to W42.18 from W42.50