Government officials have come under fire for allegedly not properly understanding Olympic funding.

The Department for Culture, Media and Sport (DCMS) faced Conservative criticism after it promised £100m in funding from the private sector.

The DCMS has since owned up to not realising it could not pledge the money for training back in 2006.

Quoted by Marketing Week, David Wyatt, DCMS parliamentary private secretary, said “none of this was understood in 2006″ in reference to the lack of rights his department had to offer firms looking to be connected to the 2012 Games.

Tory politicians are now demanding “clarity” on the issue, and expressed concerns further errors could be made.

Jeremy Hunt MP is Shadow secretary of state for culture media and sport. According to Marketing Week, he said he “shudders to think” what other miscalculations might be made.

In June the magazine reported that the DCMS had no-one in place to fill a £100m gap in finance for UK Sport.

Officials have since touted a possible deal to link different companies to different Olympic venues at London 2012.

Olympic marketing and sponsorship rights are complicated and firmly regulated. Global marketing rights are owned by the International Olympic Committee.

Article supported by Physioroom.com, Thumb Supports suppliers.

Mobile ’smartphones’ could soon brush aside traditional phones, laptops and PDAs as the business devices of choice, it has been claimed.

Mobile Computing News reports the expanding number of applications which can be used on the gadgets could see them overtake other communications methods.

Some smartphones can now run the likes of word processing, spreadsheet and email software on their operating systems.

This makes them more attractive to firms looking to pair devices with desktop computers and laptops.

Smartphones can also be used to access low cost voice over internet (VoIP) packages, allowing employees to make cheap calls.

Mobile Computing News also reported some people would not be put off by the higher cost of smartphones thanks to their range of functions and hefty capacities.

Airborne internet access also took a step forward this week, with the Times reporting that American Airlines has installed the web on some of its flights out of New York.

Passengers can use laptops, PDAs and smartphones to log on during these flights thanks to a Wi Fi device.

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Bright business future for smartphones

Higher-end phones which can support a number of applications could be the future of business mobile contracts, experts have said.

Technology publication Mobile Computing News says smartphones running open operating systems could overtake PDAs and less advanced mobile phones.

Many smartphones support software running spreadsheets and email, which can be useful for workers looking for devices which synchronise smoothly with PCs.

They can also be used to log on to voice over internet software (VoIP) so the user can make cheaper calls, potentially offsetting the costs of some subscriptions.

Mobile Computing News reports although smartphone contracts can be more expensive than traditional business mobile deals, the extra capacity and functionality is making them more attractive to firms.

Elsewhere, in-flight access has become a reality thanks to an American firm running a new service on flights from New York.

According to the Times, Amercian Airlines has started offering Wi Fi on the routes, meaning people with smartphones, laptops and PDAs can access the web while airborne.

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Trying to save money wherever you can is important to us all. Car insurance should be no different. Do not assume that your agent knows everything about you and your vehicle.

Drivers should take advantage of all discounts that many providers offer, that can significantly reduce the cost of car insurance. Understanding discounts and how they can affect auto insurance premiums can help smart shoppers make better decisions about their coverage and possibly save themselves some money in the process.

Read below to identify possible discounts that could help you save on auto insurance this year. Other than discounts, there may be some other ways for you to save on your insurance premiums. We will go over several discounts that can help with your current situation.

First, there are discounts for Auto Safety features. Certain states will give you discounts for anti-lock breaks. Make sure you know if it is two or four wheel anti-lock break vehicle. Automatic seatbelts and airbags are frequently discounted on your insurance premiums. In most states, a defensive driver class discount may apply. If the principal driver usually 55 years old or older has completed an approved defensive driving class a discount could apply. Keep in mind that most states will only approve this class if it is voluntary meaning that it was not the result of a violation or infraction.

Some insurers will give you a discount for having multiple vehicles. In some cases, this will only apply if you have two or more drivers. If you have a clean driving record, meaning you do not have any tickets, accidents or suspensions in the last three years (some companies require five years) then you could be eligible for a safe driver’s discount.

Many companies will reward you with staying with the same insurance company for many years without any accidents reported. They will offer you a renewal discount. It makes sense, you have carried insurance with a company for several years, and have not had an accident, your insurance company likes you and wants to reward and keep your business. Some companies honor you with a discount if you had prior limits on your previous policy. They discount you because they understand you are a better risk.

Conversely, if you do decided to change insurers a proof of prior insurance discount may apply. Most insurers request at least 6 months of consecutive insurance from the previous insurer. If you are a full-time student who meets certain grade requirements and are unmarried and usually under 25 years of age (some states the age is 21) you could be eligible for a good student discount. If you own a home, including condominium, town home, or mobile home, which is used as a principal residence, a discount could apply. Military personnel either currently active or retired from any branch of the US military a discount could apply. If your vehicle is equipped with an anti-theft device, a discount could apply.

You could lower the cost of your insurance in other ways.
For people who own older cars, it may not be necessary or cost-effective to protect them with collision and comprehensive coverage. By comparing the book value of your vehicle and the premium that the insurer has offered, you may find that it cost as much for the insurance as it does for the vehicle. If the car is worth less than $2,000, you will probably spend more insuring it than it is worth. The whole idea of driving an older car is to save money, so why not get what is coming to you.

In addition, keep in mind that the type of vehicle you buy could greatly affect your premium. A flashy red sports car is usually going to cost more to insure than a mid sized sedan. This is also true of vehicles that are on the list of most stolen. There are many ways that policyholders can save on their insurance. Knowing more about auto policies and premiums can help consumers take advantage of less obvious discounts while ensuring that they have the appropriate protection for their vehicles. The last way to save is to assume more risk. If you chose higher deductible on your Personal Injury Protection or Comprehensive and collision coverage will lower your premium as well. The deductible is the amount of money you have to pay before your insurance company begins paying the rest.

Understanding how discounts affect your insurance rates is important to save you money.

UK mortgage holders could save £345 billion collectively if offsetting was popular in Britain, experts say.Research from Intelligent Finance (IF) shows the average UK borrower could save nearly £70,000 with an offset.

Cammy Amaira, director of sales at Intelligent Finance, said: “In Australia, the popularity of offset has a lot to do with mind-set.
“Australians value home ownership as much as we do, but they don’t want their mortgage to take over their lives, making offset their ideal choice.”

He added offset has come on in the UK over the past decade but IF would like it to boom as ‘latest number crunching proves it’s definitely worth it’.

Offset mortgages were introduced in 1997 and were initially thought of as a niche product.

IF, launched in 2000, is a division of Bank of Scotland.

A cut in interest rates by the Bank of England will be passed on to mortgage holders, lenders revealed.The Bank cut rates to 5.25 per cent yesterday to reduce the effect of the credit crunch on the economy.
UK mortgage lenders then announced they will be handing this down to customers -meaning a £100,000 mortgage will decrease by £16 a month.

David Kern, economic adviser to the British Chambers of Commerce, said: “The Bank’s decision to cut interest rates to 5.25 per cent was necessary for the economy.
“In the face of worsening global and domestic conditions, a refusal to act would have entailed unacceptable risks.”

He added the move is ‘not adequate on its own’ as threats to growth are ‘much more acute’ now than current inflation risks.
“We would have welcomed a bold UK move to five per cent,” he added.

Low-income households should be given 25-year fixed rate mortgages, chancellor Alistair Darling has said.
Mr Darling called for ‘greater availability of affordable long term fixes rate’.
The majority of fixed rate mortgages remain popular but only run for up to five years.
Mr Darling said: “For many households, particularly those on low incomes, fixing the level of mortgage repayments for several years makes real sense. It can also contribute to wider macroeconomic stability.”Mr Darling has said the launch of mortgages fixed for 25 years would give homeowners more security, in short supply during the current uncertain financial climate.

Nationwide is currently the only major UK lender offering a 25-year fixed rate mortgage.

The building society, a known supporter of Mr Darling’s views on fixed rate mortgages, revealed its 25-year fixed rate mortgage sold out in just five weeks when launching in March last year.

The Bank of England has reacted to slowdown signs by cutting interest rates by 0.25 per cent to 5.5 per cent.
Although widely expected, it came as a welcome relief for borrowers and was announced a day after E.On became the latest major power company to raise prices.Ray Boulger, of John Charcol, said: “With the Bank’s Monetary Policy Committee (MPC) receiving significant criticism for not cutting the rate for a second consecutive month in January, after a unanimous vote for the December cut, together with discussion on whether a 0.5 per cent cut might be necessary to achieve economic stability, there was never any real doubt on the outcome of today’s meeting.”

He added that the MPC is now effectively ‘running hard to stand still’.

The Bank ruled out a bigger rate slash in an effort to ease slower economic growth while keeping an eye on inflation.
Meeting every month, the MPC makes decisions on interest rates based on the result of a vote by nine members.

The UK is set to avoid a full recession and interest rates are likely to fall to 4.5 per cent in 2008, one expert says.
Finance gurus at Global Insight also predict interest rates will again fall - to four per cent in the first half of 2009.Howard Archer, a top economist with the firm, said: “We currently forecast interest rates to fall to 4.5 per cent by the end of 2008 and to four per cent in the first half of 2009.
“This is based on our assumption that the UK will avoid recession, but will see extended below-trend growth.”

He added the company forecasts GDP growth to be limited to 1.8 per cent in 2008 and 2009 - ‘the equal weakest performance since 1992′.

The latest interest rate decision is due to be made on Thursday, and, with it currently standing at 5.5 per cent, it is expected to be cut by at least a quarter per cent.

Northern cities such as Manchester are still offering £100,000 mortgages amid high house prices.Real estate provider Savills says Manchester in particular is a far better bet than London for those looking for a first home.

Tom Rogers, residential investment consultant at Savills, said: “There is a lot on offer. The market is going through a little blip at the moment but as far as property prices go, I think they are quite fairly priced in Manchester.
“A one-bedroom apartment is still quite affordable and that’s city centre living .You wouldn’t get that in London.”

He added the city has grown ‘significantly’ in the last few years and is still growing.

Savills also said Manchester is a vibrant city where there is always something going on.

According to manchesterfacts.com, £4.9bn in construction projects are planned there over the next decade.

Men in their twenties are more likely to opt for debt consolidation loans than anyone else, figures suggest.
Stats from the Halifax found twentysomethings are most likely to take out a debt consolidation loan, followed by those aged 30 to 39.The figures also show more loans are taken out in January than any other month - almost double compared to some months.
Neil Chandler, head of Halifax unsecured personal loans, said: “For many people, the start of the year is a time to get personal finances in order - transferring debt from more expensive products such as store cards or other loans.”

Men are more likely than women to take out a debt consolidation loan - a stat consistent throughout the year.

The Consumer Credit Counselling Service says people should share information about loans with their friends and family.