Topic: Olympics

Greece formally hands over the Olympic flame to a London delegation led by Princess Anne and including David Beckham on Thursday at the Panathenaic stadium where the first modern Games were held in 1896.

The countdown to this summer's London Olympics kicked off with the kindling of the Games torch by the sun's rays in ancient Olympia on Thursday, sparking a relay that will culminate with the lighting of the Olympic stadium's cauldron at the opening ceremony on July 27.  

Many countries finance their Olympic competitors, but not the United States, where athletes fund their own training. Sometimes charities help, and organizations take donations, but more often than not, athletes have to get jobs like the rest of us and fit in the training.

McDonald's is a sponsor for the London Olympics—and a British doctors' group says that's sending the wrong message in a country with ballooning obesity.

The British government is considering plans to shut down the department responsible for delivering the Olympic Games just weeks after the closing ceremony has taken place, as part of its austerity drive, sources close to the government have told CNBC.com.

Four years after Beijing hosted a spectacular summer Olympics, China's bustling capital sees vastly improved public transport and infrastructure, but many of the venues built for the event languish unloved, underused and draining public finances.

Transport for London (TfL), which is responsible for the majority of London's transport system, including the London Underground, expects to see an additional 500,000 passengers on the tube during the Olympics, a number that has seen many voice their concerns over whether the system can cope with the influx.  London Underground says it is a challenge it prepared to take on.

The Olympics may be the hottest ticket in London this summer but some of the best seats remain unsold as big companies weigh the cost and the risk of breaching Britain's new bribery laws before buying premium hospitality packages.

London’s hotel sector will grow by 3.9 percent in 2012, with the London Olympics and the Queen’s diamond jubilee bolstering tourist demand, according to UK estate agency Savills.

Bookings for travel to Britain around the time of the summer Olympics have jumped, helping to dispel fears many tourists would stay away during the Games, a study showed on Thursday.

Preparations for London’s 2012 Olympic Games remain on time and under budget, the UK’s Minister for Sport and the Olympics said in a quarterly report released on Tuesday, with more than 500 million pounds ($793 million) of contingency funds as yet untouched.

London is home to some of the world’s most opulent hotels, but with five-star rooms in short supply during the Olympic Games this summer, wealthy visitors are increasingly turning to private homes to meet their accommodation needs. Here are some of the best on offer this summer.

The surprise departure of Rome from the race to host the 2020 Olympics has put the spotlight on the finances of the five remaining candidates, with Azerbaijan's Baku and Qatar's Doha, initially seen as outsiders but flush with cash, set to gain in status.

A seven-bedroom house in London's upmarket Mayfair district will likely set a British record rent of 433,000 pounds ($678,400) per month as landlords cash in on demand for space during this summer's Olympic Games.

Terrorists combining a cyber attack with physical violence are the biggest security threat facing the 2012 Olympics, a digital forensics expert told CNBC.