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The Guardian - UK
The Guardian - UK
National
Dave Hill

Boris Johnson, David Ross and Olympics costs

From the Beeb's Robert Peston:

There has been an astonishing announcement by Carphone Warehouse this morning. One of its two founders, David Ross, has resigned as deputy chairman, following his disclosure to the mobile phone and internet group that between 2006 and 2008 he pledged 136.4m of his shares in the company as collateral against personal loans.

Ross is Mayor Johnson's appointee to the board of Locog, effectively his Olympics costs monitor. Can Ross continue in this role? Locog aren't commenting at this stage, but the mayor's office should be more forthcoming. Meantimes, The Guardian's business department's coverage is here.

Update, 11:57. More from Helene Mulholland.

Update, 13:31. Still we await news from the mayor's office of Ross's fate. It's the same at The Standard.

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