Ūkio bankas is the winner of Lithuanian Banks Cup 2009 chess tournament

Ūkio bankas is the winner of Lithuanian Banks Cup 2009 chess tournament

On 9 May the third chess tournament Lithuanian Banks Cup 2009 was held in the shopping and entertainment centre ‘Gedimino 9’. 26 representatives of seven Lithuanian banks competed for the Cup in personal and team standings.

After a long fight Ūkio bankas team member Henrikas Asauskas, Ūkio bankas Risk Capital Management project administrator, has won in individual standing with 6.5 points out of 7. Ūkio bankas Jurbarkas Branch manager Valentinas Jankūnas was the fifth and Ūkio banko lizingas general director Mindaugas Valančius was the seventh.

Ūkio bankas team was among the winners in team standing as well and has won gold medals and the Tournament Cup.

“We expected victory in team standing. We had a goal to be among the three winners. Our prospects fulfilled in spades,” said Ūkio banko lizingas general director Mindaugas Valančius.

The tournament was arranged by Lithuanian Chess Federation.

Ūkio bankas resumed connection to Eta bankas

Ūkio bankas resumed connection to Eta bankas

Dear Ūkio bankas clients,

Please be informed presently we have nearly completed the implementation of a new Eta bankas connection mode that will allow you to connect to Eta bankas and sign documents therein using a mobile phone. This is the reason why Eta bankas connection windows changed.

We warrant that your connection data that you will enter when connecting to Eta bankas are protected.

Western Union Highlights Accomplishments and Strengths at 2009 Annual Stockholders’ Meeting

Western Union Highlights Accomplishments and Strengths at 2009 Annual Stockholders’ Meeting

ENGLEWOOD, Colo., May 13, 2009 (BUSINESS WIRE) — Hosting the third annual stockholders’ meeting of The Western Union Company (NYSE: WU), President and Chief Executive Officer Christina Gold today reiterated the company’s strategy and emphasized its commitment to delivering value to shareholders.

Approximately 89.54 percent of the shares entitled to vote were represented at the meeting in person or proxy. All voting results are preliminary. The stockholders voted to re-elect Roberto G. Mendoza, Michael A. Miles, Jr. and Dennis Stevenson to serve new three-year terms as members of the board of directors.

Stockholders also voted to ratify the selection of Ernst & Young LLP as Western Union’s independent registered public accounting firm for 2009.

About Western Union

The Western Union Company (NYSE: WU) is a leader in global money transfer services. Together with its Vigo and Orlandi Valuta branded money-transfer services, Western Union provides consumers with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. It operates through a combined network of more than 379,000 Agent locations in 200 countries and territories. Famous for its pioneering telegraph services, the original Western Union dates back to 1851. For more information, visit www.westernunion.com.

Ūkio bankas changes interest on time deposits

Ūkio bankas changes interest on time deposits

From 11 May 2009, Ūkio bankas set new annual interest rates on time deposits in litas, euros, US dollars and pounds sterling.
Interest on deposits in litas is decreased least. From 11 May, Ūkio bankas interest on time deposits in litas is decreased by 0.35 to 0.65 percent. Private and corporate clients placing time deposits for a 12-month and longer period will be paid the interest of 9.5 percent. For deposits placed for a 6-month term the Bank will pay 9 percent in annual interest. Private and corporate clients placing time deposits in litas for 1 to 3 months will be paid the interest of 8.75 percent.
Ūkio bankas reduced interest on time deposits in euros by 1 to 1.15 percent. Private and corporate clients placing time deposits in euros for a 12-month and longer period will be paid the interest of 7 percent. For deposits placed for a 6-month term the Bank will pay 6.5 percent in annual interest. 3-month time deposits in euros will yield 6.25 percent in annual interest.
From now on, interest on deposits in US dollars will vary in the range of 4.25 (1 to 5 months) to 5 percent (12-month and longer maturity). For deposits with 6-month maturity the Bank pays 4.5 percent in annual interest.
Like in the case of time deposits in US dollars and euros, interest on deposits in pounds sterling fell by 1 to 1.15 percent. From 11 May, interest on deposits in pounds sterling reaches from 6.25 (1-5 months) to 7 percent (12-month and longer maturity). The interest of 6.5 percent will be paid to private and corporate clients placing time deposits in pounds sterling for a 6 month period.
Time deposits placed via the internet banking system Eta bankas will yield from 0.1 to 0.2 percent higher interest: interest on 1-12 month time deposits is increased by 0.1 percent and that on 12-month and longer term deposits – 0.2 higher annual interest.
According to unaudited data, during Q1 2009 Ūkio bankas earned LTL 4.0 million in net profit, showing a 75 percent decrease compared to the same period of 2008 when its net profit amounted to LTL 16.1 million.

Western Union to Present at the J.P. Morgan Global Technology, Media and Telecom Conference

Western Union to Present at the J.P. Morgan Global Technology, Media and Telecom Conference

ENGLEWOOD, Colo., May 12, 2009 (BUSINESS WIRE) — The Western Union Company (NYSE: WU), a leader in global payments, announced today that the company will be presenting at the J.P. Morgan Global Technology, Media and Telecom Conference on Monday, May 18, 2009. The presentation will begin at 10:00 AM Eastern Time.

The presentation will be available via webcast from www.westernunion.com, under the investor relations section. A replay of the webcast will be available on www.westernunion.com until May 25, 2009.

About Western Union

The Western Union Company (NYSE: WU) is a leader in global payments. Together with its affiliates, Orlandi Valuta and Vigo, Western Union provides consumers with fast, reliable and convenient ways to send and receive money around the world, as well as send payments and purchase money orders. It operates through a network of more than 379,000 Agent locations in over 200 countries and territories. Famous for its pioneering telegraph services, the original Western Union dates back to 1851. For more information, visit www.westernunion.com.

Team RAC look to carry form into Donington

Team RAC look to carry form into Donington

Team RAC will look to continue their impressive start to the season as the HiQ MSA British Touring Car Championship arrives at Donington Park, Leicestershire this Sunday (17 May).

Colin Turkington lies in second position in the Championship standings following a strong display at Thruxton two weeks ago, which saw the Team RAC man record his 14th career victory.

Team-mate and Leicestershire-born Stephen Jelley returns to his home circuit keen to build upon an encouraging start to the season, which sees him lying in seventh position overall.

Last year’s meeting at Donington was plagued by unpredictable weather and the damp conditions proved difficult for the rear-wheel drive cars. However, the team are confident of a far stronger performance this time around having impressed at Thruxton.

Current Independent Drivers Champion Turkington comments: “Confidence is definitely high going into Donington. I’ve been in good form so far this season and the aim is to continue that form with another strong points finish.

“Historically the car is always quick around Donington and a similar performance to last year in terms of qualifying should ensure we’re in contention.”

Stephen Jelley said: “I’ve been looking forward to Donington for a while now. Every time I get out of the car I can’t wait to get back in at the moment, and with it being my home event, I’m sure there will be a lot of support.

“It should be a good weekend for Team RAC. We’ve had a good start to the season, but we have to take it one step at a time. The car should be quick and we hope we can be up there challenging.”

WSR Team Principal Dick Bennetts said: “Since Thruxton at the end of last month, both cars have been completely stripped down and reassembled ahead of the trip up to Leicestershire.

“The team are all looking forward to Donington as it’s a great circuit, and we’re hopeful we can maintain our strong start to the season.”

Turkington has amassed 58 championship points after the first two rounds, while team-mate Stephen Jelley has collected 29 points. Team RAC are currently second in the BTCC team standings with 87 points, and currently lead the Independents Championship.

Netherlands: Delta Lloyd Group sharpens strategic edge with scenarios

Netherlands: Delta Lloyd Group sharpens strategic edge with scenarios

Is there a future after the crisis?
As the credit crisis continues to rage, Delta Lloyd Group sees this as the right time to look forward. Together with scenario developer Robert Bood, Delta Lloyd Group has developed scenarios to help create a strategy in these turbulent times.

With the “Fragmentation” and “New Balances” scenarios that were presented yesterday, Delta Lloyd is preparing itself for the future: for the transformations that lie ahead and their wider implications for the financial world, Delta Lloyd Group, customers and all other stakeholders.

The scenarios unveiled yesterday at the prestigious Harvard Faculty Club of Harvard University in Boston give a vision on our world in 2025. Will the crisis persist for years to come and fragment the global (economy) or is this the start of new opportunities and new balances?

In “Fragmentation” economic problems escalate, heralding prolonged periods of global stagnation. With social contrasts widening and political coalitions falling apart, lively virtual communities spring up and flourish. In “New Balances” sustainability and respect set the tone around the world, offering new players and initiatives ample scope to evolve and thrive. Governments and companies invest heavily in renewable energy and ambitious environmental goals. In the West, wellbeing prevails over economic prosperity to form the basis for radical social and economic renewal.

Niek Hoek, chairman of the executive board of Delta Lloyd Group: “When the credit crisis started to spread like wildfire across the world, we decided to develop scenarios for the unknown future. There is no doubt that the current developments in the financial markets will strongly shape the coming years. But we are looking further ahead. And by using these scenarios to ‘practice for the future’, we are sharpening our strategic edge and doing everything possible to fulfil our customer pledge: ‘The Future Secured’.”

To identify the external forces that will dominate Delta Lloyd Group’s business context of the future, we spoke to more than fifty people inside and outside the company. In line with the scenario methodology, these talks were mainly about the future social, ecological and economic context in which the financial sector must operate. The current scenarios form the sequel to the scenarios that Delta Lloyd Group developed in 2004/05, and will help Delta Lloyd Group to prepare for the evolving situation in the financial world.

Robert Bood, partner at Fairsights: “Scenario thinking is an indispensable instrument for companies to get a grip on an uncertain future. By thinking through the implications of entirely different future scenarios, you acquire growing insight into the forces that will determine the dynamics of the future environment. So do scenarios foresee everything that the future might throw at us? Certainly not, scenarios are not forecasts in any shape or form. The purpose of scenario thinking is not to know the future, but to prepare for the challenges of possible and, even entirely unforeseeable, futures.”

A summary of the scenarios, the full text (in PDF format) and the possibility to comment/blog about the future of financial services can be found on our blog www.Q1234.nl or via our website www.deltalloydgroep.com/.

Consumers placing themselves at risk in recession

Consumers placing themselves at risk in recession

The British Insurance Brokers’ Association (BIBA) has warned consumers to seek professional insurance advice following research that reveals that consumers are reducing their insurance cover as a result of the recession, with home and motor insurance affected the most.

BIBA is concerned that if consumers cut insurance protection without guidance from an insurance broker, homeowners and motorists could be exposed to financial risk if they suffer a fire, burglary or have their car stolen or damaged.

Key findings of the research, to be launched at BIBA’s conference in Manchester on Thursday, include:

More than one fifth (23%) of brokers surveyed have seen their personal lines customers reduce their level of insurance protection during the recession.

Examples of reduction in personal lines cover included:
- 29% of brokers have seen a reduction in non-essential cover and “add-ons” for personal lines business.
- 16% of brokers have seen personal lines clients reducing sums insured
- 16% of brokers have seen personal lines clients increase excesses

When asked which classes of personal lines insurance are most affected, 96% said motor or home.

Eric Galbraith, BIBA Chief Executive, said: “I am concerned that families are putting themselves at financial risk by reducing insurance.

“Cutting out the wrong part of your insurance protection could be a costly mistake. Professional advice from a broker on a tailored insurance programme is the only way to achieve a cost effective solution.”

To find an insurance broker, consumers can use the BIBA ‘Find a Broker’ helpline on 0870 950 1790 or www.biba.org.uk

Duty of care inspections should not be overlooked, warns RAC

Duty of care inspections should not be overlooked, warns RAC

With vehicle service intervals getting longer, fleets are exposed to increased downtime and costs, says RAC.

Following duty of care inspections of 140 fleet vehicles, the company found that 90%* had one or more faults that would have either caused a breakdown, led to costly repairs, or put the driver on the wrong side of the law.

Alan Kennedy, corporate partnership manager for RAC Inspections, said: “It’s clear from our vehicle examinations that some fleets are failing to conduct adequate routine maintenance checks on vehicles, with some checking their vehicles only once a year.

“RAC examiners often see vehicles with damaged, worn or underinflated tyres, which put drivers at risk and increases fuel consumption. Faulty brakes and steering have also been identified on certain fleets - which could easily cause a serious accident.

“Companies should look carefully at whether procedures and policies are in place to adequately maintain a vehicle to prevent fleets incurring high costs and scrutiny from the Health and Safety Executive, should an accident occur,” he said.

The average age of vehicles inspected was just under two and a half years, with an average mileage of 44,000.

“Often manufacturer warranties only cover vehicles for two years and those fleets considering extending leases could be left without breakdown cover, exposing them to downtime and additional costs. It could also mean they are contravening duty of care obligations if failing to adequately check fleet vehicles on a regular basis.

“Regular vehicle inspections are imperative to protect employees as well as a firm’s corporate reputation. If a vehicle doesn’t comply with the law it’s the driver who faces the penalty and the company could be exposed to negative publicity.

“In addition, early identification of faults can prevent costly component failure, cut vehicle downtime and hire costs as well as minimise a firm’s exposure to driver disqualification.

“Since RAC examiners aren’t trying to sell repair and maintenance services, our only concern is the roadworthiness of fleet vehicles and the safety of drivers. Thorough checks by a fleet manager or by an independent third party can help to identify those fleet drivers who are failing to maintain their vehicles.

“RAC inspections can provide comprehensive reports that categorise defects. Maintenance issues are highlighted and reports provide evidence of corporate responsibility.”

-ends-

RAC Press office contact:
Vicki Burn on 01603 684224/ 07800 692909 or Elinor Graveson at Staniforth on 0161 919 8025 / 07973 360 141.

Sainsbury’s celebrates 1st year of certified sustainable palm oil with 14,000,000 fish fingers!

Sainsbury’s celebrates 1st year of certified sustainable palm oil with 14,000,000 fish fingers!

Sainsbury’s industry leading commitment to sustainable palm oil is credited with helping to more than double sales of basics fish fingers over the past 12 months.

Certified sustainable palm oil was introduced to basics fish fingers last May when Sainsbury’s was the first food company to purchase the oil on a large scale. Following this move, almost 14m basics fish fingers have been sold, meaning the UK is now consuming sustainable palm oil in large volumes for the first time.

Fiona Wheatley, Sainsbury’s sustainability manager, said: “We are firmly committed to the use of certified sustainable palm oil and are currently looking for new products in which we can use it. Sales of basics fish fingers have risen sharply and one of the reasons for this is that customers respond favourably to the sustainability of the product.”

The supermarket was the first major company to purchase RSPO certified palm oil when it became available for the first time last year and is currently the only retailer to have purchased it at scale.

Only certified palm oil is used in Sainsbury’s frozen fish range, meaning the oil used in its production is fully traceable and comes from a sustainable source.

In addition to being the only retailer to buy the oil in large volumes, Sainsbury’s is also the only retailer to set a target date by which to switch to 100 per cent certified sustainable palm oil, aiming to reach this goal by 2014.

Fiona added: “We need to support the workers, farmers, families and communities that rely on palm oil while making sure that tropical forests are protected for everyone’s future benefit.

“In order to achieve this, we are dependent not only on widespread take up of certification at plantation level, but also adoption of certified sustainable palm oil sourcing by the companies that trade and process palm oil.”

To ensure that customers know that the products they are buying contain certified palm oil, Sainsbury’s has created a ‘made with sustainable palm oil’ icon that is displayed on front of packs. This is supported with a text box that explains that the palm oil used in the product does not contribute to illegal deforestation, and is sourced with consideration to the environmental, social and economic aspects of palm production.

Sainsbury’s is also committed to changing labelling on all products so that they name palm oil (and other vegetable oils) specifically, and no longer use the generic description ‘vegetable oil’. This will be completed by July, although as some of the products have a long shelf life it may take some time to sell through the products with the ‘old-style’ labelling.

Sainsbury’s support of sustainable palm oil is such that the company’s CEO, Justin King is a member of the Prince’s Rainforest Project (PRP) steering group. The project was set up by HRH The Prince of Wales and seeks to ‘make rainforests worth more alive than dead’. The PRP team works with Governments, businesses and non-profit organisations to find solutions to deforestation.