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Ross quits Olympics posts

Carphone Warehouse founder David Ross has resigned from his post as the Mayor of London’s advisor on the Olympics budget.

Olympics minister Tessa Jowell told the Culture, Media and Sport Committee that he had emailed her and Boris Johnson to tender his resignation.

Mr Ross also held a seat on the London Organising Committee of the Olympic Games.

It has been a bad week for Mr Ross, who resigned yesterday from the board of Carphone Warehouse after it became known he used his shares in the form as security for a loan.