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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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Luxury yacht firm lays off 234 staff

Category : World News

The administrators appointed at a Worcestershire luxury boat company issue redundancy notices to 234 staff.

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Axminster Carpets to keep weaving after purchase by local consortium

Category : Business

Undisclosed sum paid for 258-year-old firm which went into administration in March with loss of 300 jobs

The carpet firm Axminster has been saved from closure by a consortium of local business people.

The company went into administration in March after a 258-year history that saw it supplying carpets for government and royalty. Thousands of people backed the campaign to rescue the heritage brand, which had been buffeted by the combination of rising commodity prices and dwindling sales in the economic downturn. Around 100 jobs will be secured, although 300 people were made redundant last month.

The price paid by the local consortium to the administrators has not been disclosed, but the deal means the company’s factory and outlet shop in Axminster, and another outlet in Buckfast, will keep running.

Speaking for the administrators, Benjamin Wiles said: “We are absolutely delighted to be able to announce that we have secured the future of Axminster Carpets, one of the best-known British brands, following the successful sale of the business and assets of the company to Axminster Carpets (2013).

“It is a great result to secure the continuance for such an iconic name. I believe we have secured the best possible outcome for the local region and most importantly the staff.”

The new Axminster Carpets company will be led by Josh Dutfield, a former managing director and the grandson of Harry Dutfield, the man who revived the company in the early 20th century. Josh Dutfield said he and his colleagues had “been truly overwhelmed by the support received from the residents of the town of Axminster in our endeavours to secure the future of the business”.

The small Devon town saw carpets first manufactured in 1755, and had become synonymous with the trade before recent struggles put its local future in doubt.

Hilco to save HMV brand in £50m rescue deal

Category : Business

Restructuring specialist would acquire about 140 stores and safeguard 2,500 jobs

There might just be life in the old dog yet: Nipper, the mascot who has peered into a gramophone in HMV shop windows for more than 90 years, appeared close to being saved in a £50m deal that will safeguard 2,500 jobs and up to 140 branches of the UK’s last major high street DVD and CD

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Exeter Resource Corporation Announces Filing of AIF and 40-F

Category : Stocks

VANCOUVER, BRITISH COLUMBIA–(Marketwired – April 1, 2013) - Exeter Resource Corporation (TSX:XRC)(NYSE MKT:XRA)(NYSE Amex:XRA)(FRANKFURT:EXB) (“Exeter” or the “Company”) announces that it has filed its Annual Information Form (AIF), Annual Financial Statements and Management’s Discussion and Analysis (MD&A) for the year ended December 31, 2012, with the Canadian Securities Administrators in Canada and its annual report on Form 40-F with the Securities and Exchange Commission in the United States.

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Axminster Carpets to cut 300 jobs

Category : World News

About three-quarters of a 400-strong workforce are to lose their jobs at a troubled carpet firm in Devon, administrators say.

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Sports Direct buys Republic chain

Category : Business, World News

The Republic fashion chain has been bought by Sports Direct for an undisclosed sum, which administrators say will safeguard more than 2,100 jobs.

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HMV chief executive made redundant

Category : Business

HMV chief executive Trevor Moore is among 60 people made redundant by administrators in charge of restructuring the High Street music retailer.

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HMV announces 66 store closures

Category : World News

The administrators of HMV announce that 66 of the music and DVD retailer’s stores will close over the next two months, affecting 930 staff.

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Jessops brand sold to Peter Jones

Category : Business

Administrators PwC confirm that they have sold the brand of High Street photographic firm Jessops to entrepreneur Peter Jones.

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Hilco in talks over Jessops brand

Category : Business, World News

The restructuring company, Hilco, is in discussions with the administrators PricewaterhouseCoopers about acquiring the Jessops brand.

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