Paddy Power Betfair challenges €55 million tax whammy

first_img Related Articles Share MoneyMatrix boosts wire transfer options by integrating Klarna’s Sofort August 24, 2020 StumbleUpon Submit FTSE100 betting group Paddy Power Betfair (PPB) has confirmed that it will appeal its €55 million European tax charge imposed by the authorities of Germany and Greece.The first charge of €40 million relates to Germany’s Hessen Fiscal Court rejecting PPB’s 2012 Betfair Exchange tax assessment.The Hessen Court supports the German tax authority’s backdated review of Betfair Exchange transactions and wagering, demanding that PPB governance pay a €40 million cash charge plus accrued interest.PPB’s European tax predicament is followed by Greek authorities demanding that PaddyPower.com pay €15 million in legacy tax charges accumulated during the period of 2012-2014, in which PPB’s online betting subsidiary was operating under the provisions of a Greek interim license.PPB governance has moved to discredit the Greek €15 million tax charge, stating that the figure is significant multiple X times higher than revenues and earnings generated by Paddy Power Greek operations during the period in question.Furthermore, the FTSE betting group states that it settled its all Greek arrears and tax liabilities in 2019.With regards to Germany, PPB’s legal counsel has put forward an appeal with Hessen Court, further stating that German authorities need to clarify certain provisions of the €40 million cash charge. Mateusz Juroszek – Non-stop STS will expand amid industry disruptions August 12, 2020 Share FSB selects Glenn Elliott as new COO August 12, 2020last_img read more

Takeovers that changed Premier League history

first_imgMan City became ‘noisy neighbours’ of Man Utd after Sheikh Mansour’s Abu Dhabi United Group takeover.London, United Kingdom | AFP | Newcastle United’s sale to a Saudi-backed consortium appears to be close to completion — a deal that could turn the long-time underachievers into a major Premier League power.The potential £300 million ($370 million) takeover will reportedly see Saudi Arabia’s Public Investment Fund take a controlling stake in the club in northeast England.AFP Sport looks at three other English clubs who enjoyed a meteoric rise after lucrative takeovers:Man City become ‘noisy neighbours’When Sheikh Mansour’s Abu Dhabi United Group completed their £210 million takeover in September 2008, Mark Hughes was City’s manager, Brazilian Jo was their leading striker and Stephen Ireland was being touted as the team’s future star.Stuck in the shadow of Manchester United for decades, City had ended the previous season with an 8-1 defeat at Middlesbrough and were so hard up that Vincent Kompany said the dressing room toilet at their training ground did not even have a door.It is safe to say a lot has changed in the past 12 years.The turnaround from also-rans to the “noisy neighbours” of Alex Ferguson’s nightmares began just hours after the takeover with the shock signing of Brazilian star Robinho — the first in a long list of mega-money transfers that speeded City’s meteoric rise.City won the 2011 FA Cup and a year later Sergio Aguero snatched the title from United with his stoppage-time winner against QPR on the last day of the season.Big spending on stars such as Kevin De Bruyne and Raheem Sterling ensured City remained the team to beat and they secured another Premier League title in 2014.Pep Guardiola’s appointment in 2016 lifted them onto an even higher level and they won the Premier League in record-breaking style in 2018.Clinching an unprecedented domestic treble in 2019 established Guardiola’s group as one of the greatest teams in Premier League history.Chelsea’s Russian revolutionRoman Abramovich changed the face of the Premier League with his Russian revolution at Stamford Bridge.Abramovich’s £140 million takeover in 2003 triggered a seismic shift in power in the Premier League. Manchester United and Arsenal were England’s pre-eminent forces, but all that changed when, as Gunners vice-chairman David Dein noted with much regret, Abramovich “parked his Russian tanks on our lawn and fired £50 notes at us”.Abramovich’s cash landed Jose Mourinho in 2004 and funded his wunderkind manager’s assault on the Premier League establishment.Mourinho won the title in his first season, ending Chelsea’s 50-year wait to be crowned kings of English football, and followed that feat by retaining the trophy 12 months later.Carlo Ancelotti delivered more Premier League glory in 2010 and Mourinho returned to win his third title in 2015 before Antonio Conte landed the fifth English title of the Abramovich era in 2017.Having fallen in love with football while watching a Champions League match between Manchester United and Real Madrid, Abramovich’s holy grail was to lead Chelsea to their first triumph in Europe’s elite club competition.His wish came true in 2012 when Chelsea defied the odds to beat Bayern Munich in the final in the German team’s own Allianz Arena.Blackburn dreamFulfilling a childhood dream, Jack Walker’s vast investment transformed unglamorous Blackburn from a relic of the past into English champions.Blackburn were in the lower reaches of the second tier when Walker became the club’s majority owner after selling his steel business to British Steel for a reported £360 million.Walker was the local boy made good, who came back to revive the team he supported as a youngster.Blackburn had not won a major trophy since the 1928 FA Cup, but Walker lured Kenny Dalglish as manager in 1991 and together they put Ewood Park back on the map.Rovers were promoted in 1992 and Walker’s lavish spending made them a Premier League force.They flexed their muscles by splashing a then English record £3.6 million to sign Southampton striker Alan Shearer, beating Manchester United in the race.In 1995, Shearer’s goals helped Blackburn win the title for the first time in 81 years.It was the culmination of Walker’s ambitious dream, but they could not sustain that success and were relegated in 1999, a year before their benefactor’s death.Share on: WhatsApplast_img read more

Eat, Sleep, Learn!

first_imgFacebook0Tweet0Pin0 Submitted by Andrew Taber, Kumon Math & Reading Center of LaceyThere are three key essentials for a successful school year: healthy eating habits, the right amount of rest, and a positive and productive work environment. Each component can help lead your family into the school year on the right foot. We’ve put together a guide to help families foster a home in which all members are thriving. With ideas for quick and easy bedtime routines, personalized study rooms, and even a simple list of “brain foods,” this article will help create a hassle-free start to the school year.You Are What You EatChildren who are taught good time management and healthy eating habits early in life are likely to continue and maintain them throughout adulthood. Create a morning routine for your child that includes a healthy breakfast, a proven way to improve focus and study skills in school. Prepare a healthy, well-balanced lunch filled with nutritious snacks to keep your child energized throughout the day. When your child gets home from school, offer up some serious “brain foods” such as nuts, low-fat cheese with whole grain crackers, or even some celery with peanut butter. Providing the freedom to choose his or her snack is quite empowering for a child!  Set a timeframe for snacks after school so your child will appreciate structure and routine, while also improving time management skills.A Good Night’s SleepEarlier wake-up times can be tough on kids and parents alike. Ease your family’s transition to a “school night” sleep schedule by rolling back bedtimes the week before classes start. Children aged three to twelve need at least ten to twelve hours of sleep per night, while older children need at least nine or more.  We all know that some children have a more difficult time being told when to go to sleep.  Here are a few pointers that may help avoid the “the battle of bedtime.”Creating a Productive Learning EnvironmentA supportive home environment will foster a child’s love for learning. Enable your child to excel by making study and productivity part of everyday life. Your child needs a special place to call their own, so consider setting up a space where your child can settle in and leave papers and pens at hand without having to pack up each night. Encourage your child to spread out and take advantage of his or her work space.  Let them maintain and take ownership of that area and they will begin to develop organizational skills they’ll need down the road.Keep these tips in mind as you organize and prepare your home for the new school year. Keep your child’s developing life skills in mind during the process, you’ll create an atmosphere that nurtures success in the classroom and beyond.To learn more, visit Kumon by clicking here.last_img read more