PennyStockPayCheck.com Rss

Featured Posts

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...

Read more

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...

Read more

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

Read more

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...

Read more

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...

Read more

Private members’ ballot: Politics live blog

Category : Business

Andrew Sparrow‘s rolling coverage of all the day’s political developments as they happen, including the private members’ ballot and Google giving evidence about tax avoidance to the public accounts committee

Post to Twitter

Dell to Icahn: Show us the money

Category : Business, Stocks

Dell’s special committee told Carl Icahn that it needs more information about his offer to buy the company, including where he intends to get the debt financing.

Original post: Dell to Icahn: Show us the money

Post to Twitter

Health minister threatened with ejection from royal college

Category : Business

Earl Howe’s position on advisory committee under threat as doctors claim he ‘mis-sold’ health reforms

A health minister is facing the humiliation of being ousted from a prestigious role within the Royal College of Physicians over claims that he falsely reassured doctors who feared the coalition would privatise of the NHS.

Earl Howe’s position on an advisory committee is being reviewed following a complaint. Six influential members of the professional body that represents doctors wrote to its president, Sir Richard Thompson, claiming that the minister was “not a fit person to fulfil this important role”. Thompson has launched an investigation by the College’s trustees into Howe’s probity.

The senior doctors claim that Howe, a former banker, falsely advised them that reforms under the health and social care bill would not force doctors to use market mechanisms to choose where patients will be treated.

According to the doctors, the regulations will mean that clinical commissioning groups – the bodies to be set up by GPs to organise patients’ care – will have to put services out to tender if there is more than one provider capable of offering particular treatments. This means NHS hospitals and services will have to compete with private health firms for business.

Andy Burnham, the shadow health secretary, said there had been a breakdown in trust between health professionals and government, adding: “This whole issue has become a crisis of trust for the department of health. There would be a straight forward breach of trust given that statements ministers have given have not been honoured.

“The medical profession feels the government has mis-sold its NHS reforms. It was sold on the principle that doctors would be in control but in fact it will be the market that will decide.”

A spokeswoman confirmed that Thompson, and “in the interest of probity”, had “referred the issue to the board of trustees and would report back in June”.

She said the Friends of the RCP, the committee on which Howe serves, is an informal advisory group, including past presidents and officers, and figures from finance, industry, and other charities, that plays no role in the governance or management of the RCP but offers advice in areas such as effective fundraising.

The coalition denies the regulations will force doctors to put services out to tender, believing it will give GPs the ability to select a variety of providers and will improve standards.

Health minister threatened with ejection from royal college

Category : Business

Earl Howe’s position on advisory committee under threat as doctors claim he ‘mis-sold’ health reforms

A health minister is facing the humiliation of being ousted from a prestigious role within the Royal College of Physicians over claims that he falsely reassured doctors who feared the coalition would privatise of the NHS.

Earl Howe’s position on an advisory committee is being reviewed following a complaint. Six influential members of the professional body that represents doctors wrote to its president, Sir Richard Thompson, claiming that the minister was “not a fit person to fulfil this important role”. Thompson has launched an investigation by the College’s trustees into Howe’s probity.

The senior doctors claim that Howe, a former banker, falsely advised them that reforms under the health and social care bill would not force doctors to use market mechanisms to choose where patients will be treated.

According to the doctors, the regulations will mean that clinical commissioning groups – the bodies to be set up by GPs to organise patients’ care – will have to put services out to tender if there is more than one provider capable of offering particular treatments. This means NHS hospitals and services will have to compete with private health firms for business.

Andy Burnham, the shadow health secretary, said there had been a breakdown in trust between health professionals and government, adding: “This whole issue has become a crisis of trust for the department of health. There would be a straight forward breach of trust given that statements ministers have given have not been honoured.

“The medical profession feels the government has mis-sold its NHS reforms. It was sold on the principle that doctors would be in control but in fact it will be the market that will decide.”

A spokeswoman confirmed that Thompson, and “in the interest of probity”, had “referred the issue to the board of trustees and would report back in June”.

She said the Friends of the RCP, the committee on which Howe serves, is an informal advisory group, including past presidents and officers, and figures from finance, industry, and other charities, that plays no role in the governance or management of the RCP but offers advice in areas such as effective fundraising.

The coalition denies the regulations will force doctors to put services out to tender, believing it will give GPs the ability to select a variety of providers and will improve standards.

Unthinkable? Publish and be damned | Editorial

Category : Business

Major deals are being struck about which we know nothing. If they are such good value, why be so shy?

The high court was told this week that it is extremely rare for the facts of any of the tax settlements between the revenue and large businesses to become public. The National Audit Office came to the same conclusion. What they called “bespoke governance settlements” represented good value for the country and were properly carried out. That is, of course, until the details of any such “sweetheart” deal are leaked – such as the “handshake” deal between Dave Hartnett, former permanent secretary of HMRC, and Goldman Sachs. As we now know, this was anything but transparent. It nearly came apart when it was rejected by the revenue’s high-risk corporate programme board because it failed to collect any interest on the sum owed, but was nodded through to prevent the bank pulling out of a new code of conduct George Osborne had just announced. Up to £20m waived? All in a day’s work. According to Hartnett, deals in excess of £1bn are “not uncommon”. HMRC say that a lot of dosh is collected by protecting taxpayer confidentiality. But Margaret Hodge, chair of the public accounts committee, surely has a point when she asks that if we got £4.5bn from four settlements alone, how many more billions have slipped under the thickly piled carpet? The fact is that major deals are being struck about which we know nothing. If they are such good value, why be so shy? Wherefore the modesty? Why not publish the details of each one as a matter of course and let the public judge for itself?

MPs question infrastructure spending

Category : Business

MPs on the Public Accounts Committee question whether the government’s £310bn infrastructure spending plans are ‘credible’.

Read this article: MPs question infrastructure spending

Post to Twitter

Renegade Announces New Board Members, Formation of Special Committee and Adoption of Shareholder Rights Plan and Advance Notice By-law

Category : World News

CALGARY, ALBERTA–(Marketwired – April 26, 2013) - Renegade Petroleum Ltd. (“Renegade” or the “Company“) (TSX VENTURE:RPL), a light oil focused exploration and production company with assets located in Saskatchewan, Alberta, Manitoba and North Dakota, is pleased to announce that, further to its press releases of April 15, 2013 and April 22: (a) the Renegade board of directors (the “Board“) has added three new independent directors; (b) the Board has formed a special committee of the new independent directors to proceed with the previously announced strategic review of the Company’s business plan; and (c) Renegade has adopted a shareholder rights plan (the “Rights Plan“) and an advance notice by-law (the “Advance Notice By-law“).

Originally posted here: Renegade Announces New Board Members, Formation of Special Committee and Adoption of Shareholder Rights Plan and Advance Notice By-law

Post to Twitter

Advisers warn UK CO2 emissions ‘up’

Category : World News

The officially appointed Climate Change Committee warns the UK’s CO2 emissions are rising, not falling as ministers claim.

See original here: Advisers warn UK CO2 emissions ‘up’

Post to Twitter

Almas Jiwani to Deliver Keynote Speech at the Global Connect Women Entrepreneurs Expo & Summit 2013

Category : Stocks, World News

PORTLAND, OREGON–(Marketwired – April 20, 2013) - Almas Jiwani, President and CEO of UN Women National Committee Canada will deliver keynote speaker addressing the Global Connect Women Entrepreneurs Expo & Summit to be held in Portland from April 24th – 27th.

Follow this link: Almas Jiwani to Deliver Keynote Speech at the Global Connect Women Entrepreneurs Expo & Summit 2013

Post to Twitter

UK unemployment rise adds to pressure on Osborne’s austerity strategy

Category : Business

Unemployment reaches 2.56 million as another 20,000 under-25s add their names to the register

Unemployment jumped by 70,000 in the three months to the end of February, amid the lowest growth in pay rises since 2001, as pressure mounts on George Osborne to adopt a more aggressive growth strategy.

The number of unemployed people reached 2.56 million, with 20,000 under 25-year-olds joining the jobless ranks, pushing the unemployment rate up from 7.8% to 7.9%. It was the third consecutive increase and the highest level since July. Britain’s working population is also suffering from an austerity squeeze, with the average pay rise slipping to 1%, the lowest since records began in 2001 and well short of the 2.8% inflation rate.

The figures, which reflect a reversal of last year’s trend of falling unemployment, come after the International Monetary Fund this week urged the chancellor to ease his austerity plans and deploy more aggressive measures to spur growth.

The Bank of England’s decision to freeze its policy of injecting funds into the economy, known as quantitative easing, is also adding to the pressure on Osborne to switch to a more active economic stance. Minutes of the central bank’s April monetary policy committee, released on Wednesday revealed a six-three majority in favour of maintaining interest rates at 0.5% and keeping the level of QE at £375bn.

The MPC has remained split for several months despite the governor, Sir Mervyn King, regularly voting for a £25bn boost to QE. King has lost the vote an unprecedented three times since February when he sided with Bank director, Paul Fisher, and external committee member David Miles, a former City economist, in calling for an injection of funds into the economy to boost lending and stagnant growth.

Consumer spending in the economy has picked up in recent months, but analysts worry that it will peter out if the gap between pay rises and inflation continues to erode disposable incomes – a trend underlined by the latest data.

The unemployment rate for 16 to 24-year-olds also remained a concern after it edged back towards 1 million. In the three months to February the number of young people out of work reached 979,000, pushing the youth unemployment rate to 21.1%, up 0.6 percentage points from September to November 2012. The number of people claiming jobseeker’s allowance fell by 7,000 to 1.53 million provided a semblance of a silver lining, indicating a fall in government costs.

However, a steep fall in manufacturing and construction output this year has undermined hopes of a strong resurgence in growth. Vicky Redwood, chief UK economist at the consultancy Capital Economics, said it was likely that further aggressive moves by the Bank of England would be delayed until after the new governor, Mark Carney, arrives in July.

The calls for further action are expected to grow when estimates for first quarter GDP are released next week, with the UK just one quarter of negative growth away from a triple-dip recession.

“More QE in May is still possible, especially if the Q1 GDP figure is worse than expected. But it may be that we have to wait until Carney arrives before the MPC will take more action. Note, though, that even those voting against QE this month still seem open to further action to boost bank lending, with the committee seeing merit in possible extensions to Funding for Lending.”

Howard Archer, chief UK economist at IHS Global Insight, said: “Despite a 7,000 drop in claimant count unemployment in March, the labour market data are clearly softer overall compared to a couple of months ago.

“Overall, the data fuels concern that the labour market’s recent strength is fraying as the economy continues to struggle for even modest sustained growth. Meanwhile, earnings growth remained very weak in February. While weak earnings growth is clearly helping to keep unemployment down, the flip-side of this is that it continues to limit consumers’ purchasing power.

“Indeed, with total earnings growth limited to 0.8% in February itself, pressure on people’s purchasing power has intensified recently given that consumer price inflation has risen back up to 2.8% in March and could well hover around 3% for much of 2013.”