G4S, which runs services such as cash transportation and prison management in over 125 countries, suffered a blow to its reputation when it failed to provide a promised 10,400 guards for the London Games. Following a profit warning in May, its chief executive stepped down last month.
As the date of the Opening Ceremony draws closer, London is scrambling to get all things fixed - not least, the shortfall in security personnel.
The Olympian Effort, a special series on CNBC-TV18, over the past three weeks is bringing stories of India's key athletes and evaluating quite objectively their medal prospects.
Safety levels for the London Olympics have not been compromised by a major security contractor's failure to find enough staff, the International Olympic Committee (IOC) said on Monday, less than two weeks before the Games begin.
Private security guards manning venues at July and August's London Olympics have been warned against over-zealous behaviour that might alienate sports fans, the firm in charge of training said on Thursday.
Deutsche Bank plans to open a new precious metals vault in London next year, seeking to cash in on booming investor demand for physical gold and silver, the Financial Times reported on Tuesday.