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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to 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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Commander Reports Progress on Storm Copper Property, Nunavut

Category : Stocks, World News

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Jan. 18, 2013) - Commander Resources Ltd. (TSX VENTURE:CMD) (“Commander”) is pleased to report that Aston Bay Ventures Ltd. (“Aston Bay”), who optioned Commander’s wholly-owned Storm Property in 2011, is making progress in obtaining a public listing, which is one of the requirements of the Option and Earn-in Agreement between Commander and Aston Bay dated November 17, 2011 (“Option Agreement”).

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Aston Martin gets new Italian backer

Category : Business

Luxury sports carmaker Aston Martin is set to invest $800 million in new models and technology after winning the backing of an Italian private equity firm.

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Apple voted coolest brand in UK

Category : World News

The technology company Apple is voted the coolest brand in the UK, beating Aston Martin in the annual CoolBrands survey.

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Burnham Benefits Welcomes New Vice President, Scott Aston

Category : Stocks

Aston Draws From 12 Years of Industry Experience in His New Position at the Leading Employee Benefits Firm

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Aston Martin returns to Le Mans

Category : Business

Aston Martin returns to endurance race after 2011 fiasco

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Carroll Shelby obituary

Category : Business

American racing driver and motor engineer who developed the classic Cobra sports car

Carroll Shelby, the colourful American racing driver and engineer who shared the winning Aston Martin with Britain’s Roy Salvadori in the 1959 Le Mans 24-hour sports car classic, and who later gave his name to the iconic Shelby American Cobra high-performance sports car, has died at the age of 89.

The genial Texan’s trademark was his distinctive striped, bib-style racing overalls, which gave him a swashbuckling, Casey Jones-like appearance throughout a distinguished racing career that included eight world championship grand prix outings driving a private Maserati 250F, and latterly for the ill-starred Aston Martin Formula One team.

Born in Leesburg, Texas, the son of the town’s postmaster, Shelby was a child when his family moved to Dallas. Despite being diagnosed with a slight heart murmur at the age of 10, he served as a flight instructor with the US air force during the second world war. He went on to work in the truck business, before turning his hand to chicken farming, unsuccessfully, in the late 1940s.

Meanwhile, Shelby had started to dabble in sports car racing, and by 1952 had gained a degree of recognition after some promising outings at the wheel of a Jaguar XK120, before switching to a fearsome, Cadillac-powered Allard the following year. In 1954, spurred on by the offer of a cup from Kleenex heir Jim Kimberly – one of the great US racing philanthropists of the time – for the best performance by an amateur driver, Shelby entered the Allard in the Buenos Aires 1,000km sports car race, co-driving with airline pilot Dale Duncan, who was a useful contact when it came to air freighting the car to Argentina.

This first competitive appearance outside the US for Shelby was memorable: he and Duncan finished 10th, despite a carburettor fire during a pit stop, which had to be extinguished by the simple expedient of Duncan urinating on the engine. More significantly, Aston Martin driver Peter Collins introduced Shelby to his team manager, John Wyer, who had been impressed with the Texan’s handling of the wild and woolly Allard. Shelby now had his foot in the door at Aston Martin, which would lead to a place in their works team – and that memorable victory at Le Mans five years later.

Like most of those who drove for Aston Martin in the 1950s, Shelby loved the team’s ambience, and he never seriously considered any of the fleeting, and possibly empty, offers to join Maserati or Ferrari. His Texan penchant for straight talking occasionally made David Brown, the Aston Martin company’s owner, wince: telling the boss one of his cars handled like “10 pounds of shit in a five-pound bag” was pretty strong stuff from a hired hand in the mid-1950s. Shelby recalled Brown’s reaction: “He got pissed off at that, turned round and walked away.”

Along with Salvadori, Shelby also took up the F1 Aston Martin DBR4s during the 1959 season. But these front-engined museum pieces were obsolete even before they raced for the first time, a new generation of mid-engined cars from Cooper dashing their hopes of success. At the start of 1960, Shelby suffered bad chest pains that alerted him to a now-serious heart condition. Despite attempting to control the situation by driving with nitroglycerin pills under his tongue, Shelby decided to retire from racing at the end of that year.

One of Shelby’s dreams had been the manufacture of a high-performance American sports car, so when he heard in 1961 that supplies of Bristol engines had dried up for the British AC company, he brokered a deal that saw AC switch to using a 4.7-litre Ford V8, and the famous Cobra was born. Ford backed Shelby’s efforts on the race track, and the Shelby Cobras were duly homologated as GT cars by the start of the 1963 international sports car racing calendar, when they were pitched against the Ferrari GTOs. In 1965, the Shelby Cobras won the FIA GT championship, wresting this prestigious title from their Ferrari opposition.

By 1970, Shelby was diversifying into other businesses outside motor racing, but in 1982 Chrysler boss Lee Iaccoca, an old friend, offered him the opportunity to serve as a performance consultant to the automotive giant, bringing him back into the motor racing orbit.

He is survived by his wife, Cleo, his two sons, Patrick and Michael, his daughter, Sharon, and his sister, Anne.

Carroll Shelby, racing driver and engineer, born 11 January 1923; died 10 May 2012.

VIDEO: Aston Martin eyes Chinese market

Category : Business, World News

British luxury carmaker Aston Martin is confident about the spending power of the Chinese consumer over the medium and long term.

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Letters: State sell-offs and responsible capitalism

Category : Business

The privatisation of state services is a reflection of two problems in Britain. The first is the undermining of the notion of the “state” and its role as regulator and guardian of the public realm and the repository of moral and ethical values distinct from those of the “market”. In the UK, the study of public administration has all but disappeared, to be replaced by the application of business administration/management concepts to the functioning of state agencies, policymaking and the way politicians see their role, eg. the prime minister leading delegations of arms dealers to the Middle East.

The second is the state of British capitalism. Manufacturing has been hollowed out, banking transformed into a form of gambling, and large budgets and easy profits for questionable performance have become the norm across much of our private sector. The sequestration of state services by private capital via their political placemen and women all seems logical. Yet this will transform the role, function and capacity of the state. Our already poor quality public services will be further cheapened, and those at the helm of corporations will expropriate even more wealth. The result will be a further drop in the competence and performance of the state in health and wellbeing measures for the average citizen: from first world to third world in one easy move. A remarkable transformation of a country that is already struggling to keep up with its European competitors.
Dr Allan McNaught

• Professor Kay’s interim report is right to call for financial markets to reconnect with their core social purpose (Report, 1 March). But although its proposed structural changes will help, they fail to address one of the foundations underpinning the financial crisis – the education of our business leaders. Creating a responsible capitalism requires a fundamental mind shift in business thinking that must begin in the lecture hall. The UN princ–iples of responsible management education aim to inspire responsible management education, research and thought leadership globally. Aston University was one of the first to sign up to these, although many education institutions in the UK, and globally, have not. Reform needs to be coupled with a real change in how our future business leaders are educated. By doing so, we may avert future financial crises like the one we face now.
Carole Parkes
Aston University Business School