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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to http://pennystockpaycheck.com for 100% free stock alerts Chase Bank has moved to limit cash withdrawals while banning business customers from sending...

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Richemont chairman Johann Rupert to take 'grey gap... Billionaire 62-year-old to take 12 months off from Cartier and Montblanc luxury goods groupRichemont's chairman and founder Johann Rupert is to take a year off from September, leaving management of the...

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Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Spate of recent shock departures by 50-something CEOs While the rising financial rewards of running a modern multinational have been well publicised, executive recruiters say the pressures of the job have also been ratcheted upOn approaching his 60th birthday...

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UK Uncut loses legal challenge over Goldman Sachs tax... While judge agreed the deal was 'not a glorious episode in the history of the Revenue', he ruled it was not unlawfulCampaign group UK Uncut Legal Action has lost its high court challenge over the legality...

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Nicox: first quarter 2013 financial results

Category : World News

SOPHIA ANTIPOLIS CEDEX, FRANCE–(Marketwired – May 15, 2013) – Nicox S.A. (NYSE Euronext
Paris: COX) today reports financial results for the
first three months of 2013 and provides an overview of its activities.

Go here to see the original: Nicox: first quarter 2013 financial results

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Bloomberg: Snoop error ‘inexcusable’

Category : Business

Bloomberg says that allowing reporters to monitor the activities of clients on its terminals was an “inexcusable” error.

Read the original: Bloomberg: Snoop error ‘inexcusable’

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Austin Exploration Ltd. (AUNXY: OTCQX International) | Home Country News Release – Quarterly Activities Report and Appendix 5B

Category : World News

Austin Exploration Ltd. has filed a Home Country News Release – Quarterly Activities Report and Appendix 5B To view the full release click here (link to PDF).

See original here: Austin Exploration Ltd. (AUNXY: OTCQX International) | Home Country News Release – Quarterly Activities Report and Appendix 5B

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AusTex Oil Limited (ATXDY: OTCQX International) | Home Country News Release – Quarterly Activities and Cashflow Report

Category : Stocks

AusTex Oil Limited has filed a Home Country News Release – Quarterly Activities and Cashflow Report To view the full release click here (link to PDF).

Read the original post: AusTex Oil Limited (ATXDY: OTCQX International) | Home Country News Release – Quarterly Activities and Cashflow Report

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Prudential Regulation Authority urged to rein-in banks’ proprietary trading

Category : Business

MP Andrew Tyrie wants newly formed PRA to ask banks to publish risk exposure taken by traders and report to parliament

The Bank of England is under pressure from parliamentarians to crack down on banks that use their own money to take potentially risky bets on the financial markets.

On only his second day at the helm of the new Prudential Regulation Authority inside the central bank, Andrew Bailey faces questions on how he would monitor proprietary trading.

In a letter from Andrew Tyrie, the Conservative MP who chairs the parliamentary commission on banking standards, Bailey was reminded of the findings of the commission’s report into ‘prop trading’. The report fell short of calling for a US-style Volcker rule banning some elements of trading, but said that the PRA should ask banks to publish the risk exposures taken by their traders, with the regulator then reporting to parliament each year on the scale of the activities.

“We concluded that proprietary trading is not a suitable activity for UK-headquartered banks to engage in, due to both the prudential and cultural risks it carries,” Tyrie said in the letter. “However, we also concluded that it would not be appropriate to attempt immediate legislative prohibition of such activity.

“Instead we recommended that the PRA should monitor indicators of whether banks appear to be engaging in proprietary trading,” Tyrie said, although he raised the prospect of a Volcker rule being introduced in the future.

The PRA should “bear down” on any such trading by demanding banks hold more capital against those activities or be prohibited from conducting such trading through “variations of permission” by the new regulator, Tyrie said.

He also asked Bailey whether any legislative changes were needed to enable the PRA to demand that banks report the extent of their trading activities.

The banks that appeared before the commission said they were not currently involved in proprietary trading. “The PRA must exercise its judgment. It should hold the banks to their word. If the PRA concludes, after a period, that it lacks the authority or the tools to carry out this work, it should make clear to parliament where the current legislation or tools fall short,” Tyrie said.

The PRA, which has taken over banking regulation from the now disbanded Financial Services Authority, said: “The PRA and its board will be considering the details of the letter and will be responding to the committee directly in due course regarding this important issue.”

RusHydro JSC (RSHYY: OTCQX International Premier) | Results of the Board of Directors on March 29, 2013

Category : Stocks, World News

Results of the Board of Directors on March 29, 2013< ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

JSC RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR; OTCQX: RSHYY) announces that the Company’s Board of Directors held a meeting in absentia on March 29, 2013.

***

The Board of Directors approved the report on 2012 business-plan execution (including report on implementation of investment program, comprising report on implementation of generating facilities modernization program in 2012).

Electricity generation and output by RusHydro’s power plants for the 2012 totaled 105.2% and 105.9% of the planned volumes respectively. The slight overshoot was a result of favorable hydrological conditions and regimes allowed by the Federal Water Resources Agency.

In 2012, as a part of RusHydro`s investment program implementation a number of construction works were completed, including:

  • two hydropower units were installed at the Zagorskaya pumped storage plant No. 2 (420 MW);
  • hydropower units No.1-6 (1,998 MW) were commissioned at the Boguchanskaya HPP.

Technical upgrade and reconstruction works and capacity installation at the Volzhskaya HPP (15.5 MW), the Kamskaya HPP (9 MW) and the Kabardino-Balkaria branch (2 MW) were also completed.

In 2012, three new hydropower units (1,920 MW) at the Sayano-Shushenskaya HPP and three hydropower units at the Baksanskaya HPP (25 MW) were also commissioned.

Financing of investment program in 2012 including projects of comprehensive modernization program for 2012-2025 amounted to RUR 97.07 bn or 99% of financing plan.

Actual financing of technical rehabilitation and modernization projects totaled RUR 33.12 bn or 127% of the annual plan of RUR 26.13 bn. The increase of financing was due to the additional reconstruction of hydro turbines at the Volzhskaya HPP, the Zhigulevskaya HPP, the Kamskaya HPP and other HPPs.

***

The Board of Directors approved RusHydro`s business-plan for 2013, including the investment program, quarterly and yearly KPIs and quarterly financing plans for 2013. Furthermore, the Company’s Board of Directors approved the Company’s business plan for 2014-2017, including the investment program for 2014-2017.

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Minister MacKay Announces Department of National Defence Investments in Edmonton

Category : World News

EDMONTON, ALBERTA–(Marketwire – Feb. 16, 2013) - The Honourable Peter MacKay, Minister of National Defence today announced three local investments, including two service contracts and an education program, worth approximately $10 million to support activities of military personnel and to grow the local economy.

Here is the original post: Minister MacKay Announces Department of National Defence Investments in Edmonton

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IMX Resources Limited: Report for the Quarter Ended 31 December 2012

Category : Stocks, World News

PERTH, AUSTRALIA–(Marketwire – Feb. 1, 2013) - IMX Resources Limited (TSX:IXR)(TSX:IXR.WT)(ASX:IXR) (“IMX” or the “Company“) and including its subsidiaries (the “Group“) is pleased to report on the activities of the Group for the second quarter ended 31 December 2012.

Read the rest here: IMX Resources Limited: Report for the Quarter Ended 31 December 2012

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AusTex Oil Limited (ATXDY: OTC Link) | Home Country News Release – Quarterly Activities and Cashflow Report

Category : Stocks

AusTex Oil Limited has filed a Home Country News Release – Quarterly Activities and Cashflow Report To view the full release click here (link to PDF).

View post: AusTex Oil Limited (ATXDY: OTC Link) | Home Country News Release – Quarterly Activities and Cashflow Report

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Kingsrose Mining Ltd (KGRSY: OTC Link) | Home Country News Release – Quarterly Activities Report

Category : World News

Kingsrose Mining Ltd has filed a Home Country News Release – Quarterly Activities Report To view the full release click here (link to PDF).

Original post: Kingsrose Mining Ltd (KGRSY: OTC Link) | Home Country News Release – Quarterly Activities Report

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