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Finance

Olympic Airways Fines

The Commission has today adopted a decision requesting the European Court of Justice to impose a lump sum penalty and a periodic penalty on Greece for its failure to implement its 2002 decision in relation to the recovery of a State aid estimated at least €160 million granted by Greece to Olympic Airways between 1998 and 2002.


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Cost sinks an olympic dream

There are choppy waters ahead for swimmers in Oxford after it was revealed there is no cash to build an Olympic-size pool for the city.

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Vancouver Winter 2010 overspend

Vancouver - The federal government has ordered a comprehensive audit of the millions of dollars it has given the organizers of the Vancouver 2010 Winter Olympics.

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Blowing Vancover's Budget

An Olympic watchdog group is calling for another Referendum on the 2010 Games, saying organizers are racking up their broken promises.

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Stadium Bids Dwindle on Cost

London's planned stadium for the 2012 Olympic Games has drawn fewer than four bids after cost overruns on similar projects deterred candidates from the £280 million ($525 million) contract

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O'Rourke's £1m gift

An Irish building magnate has won the £100million contract to run London's Olympic building programme - after making a secret donation to Tony Blair's 2012 bid team.

Reclusive Ray O'Rourke gave the 'confidential' sum as the Prime Minister spearheaded the drive to secure the Olympics for Britain. Now a consortium led by his firm Laing O'Rourke has beaten some of the world's top construction companies to win the six-year Government deal. Laing O'Rourke won the Olympic contract as the leading member of the CLM consortium which also involved another British builder, Mace, and American group CH2M HILL. An industry source said: "There was much surprise that Bechtel, which has the most experience worldwide in this sort of thing, did not win. But then it has long been rumoured that O'Rourke made a substantial sum to the bid."


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