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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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Results for the 1st Quarter of 2013

Category : Stocks, World News

SAO PAULO, BRAZIL–(Marketwired – May 14, 2013) – CCR S.A. (CCR) (BMFBOVESPA: CCRO3), Brazil’s largest road concession operator in revenue terms hereby announces its results for the first quarter of 2013.

Read the original here: Results for the 1st Quarter of 2013

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Key libel reform thwarted as Conservatives block defamation bill

Category : Business

Conservatives succeeded in blocking a Lords amendment to tighten up laws which allow corporations to stifle free speech

The Conservatives have succeeded in their attempt to water down defamation laws which would have prevented large companies ranging from McDonald’s to Tesco from suing their critics unless they could prove financial losses.

The Conservatives won a vote in the House of Commons to remove a House of Lords amendment to the defamation bill to tighten up the laws which critics say allow corporations to stifle free speech.

But during the Commons debate, the justice secretary Helen Grant promised to reconsider the amendment after the vote to get the support of the Liberal Democrats.

But Labour denounced Grant’s concession as a sham and it is almost certain the Liberal Democrat peer Lord Lester, who has led a three-year battle for libel reform, will move to reinstate the amendment when the bill returns to the Lords.

After losing the vote 298 to 230, shadow justice secretary Sadiq Khan said: “The government gave the impression there would be last minute concessions but this has proved false.”

Labour MP Paul Farrelly said “the issue here is not just about big corporations which want to bully like McDonalds intimidating the little people just because they could … it’s also about the desire of big businesses to silence its critics”. He said big corporations used the libel laws “to take journalist out of the game”.

Tracey Brown from Sense about Science which has campaigned for doctors and scientists who have been sued after they criticised big health companies said she was “deeply disappointed” the clause was removed but that support from many MPs on the issue had led to the government concession.

The amendment also included a clause, now struck out, which would have banned local councils and their subcontractors from suing anyone who criticised them in their performance of public duties, paid for by the taxpayer.

Tory MP Sir Peter Bottomley made an impassioned plea with his fellow politicians not to vote to remove this clause said that although case law had established, under the so-called Derbyshire principle, that councils could not sue, this did not extend to private companies such as Atos Healthcare, a company employed by the department of work and pensions, which has threatened disability blogs and websites with legal action.

Agreeing with Bottomley, Khan said: “Just because a school, prison or hospital is run by a private company doesn’t mean it should be insulated from public criticism.”

English PEN, whose campaign for libel reform has been backed by high-profile figures including Stephen Fry and William Boyd said: “We’re depending on the Lords now to deliver the reform that all the parties signed up to.

“It’s essential that companies are no longer allowed to exploit libel law to bully whistleblowers into silence. This has always been a key demand for the campaign.”

Condor Gold Acquires HEMCO Concession and Extends La India Project

Category : World News

LONDON, ENGLAND–(Marketwire – Feb. 5, 2013) - Condor (AIM:CNR), a gold exploration company focused on delineating a large commercial reserve on its 100%-owned, CIM compliant Mineral Resource of 2,375,000 oz gold at 4.6g/t at La India Project in Nicaragua, is pleased to announce the acquisition of 100% of the 86.4 sq km ‘HEMCO-SRP-NS’ Concession (the “HEMCO Concession”) from HEMCO Nicaragua SA (“HEMCO”) for a consideration of US$275,000 payable by way of issuing new ordinary shares in Condor Gold plc at £2.00 per share. The acquisition of the HEMCO Concession increases the Company’s La India Project area to 280 sq km from 194 sq km.

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QRS Capital San Felix Land Claim Correction

Category : Stocks

THUNDER BAY, ONTARIO–(Marketwire – Dec. 12, 2012) - QRS Capital Corp. (TSX VENTURE:QRS) (“QRS” or the “Company”) wishes to correct previous statements made regarding its San Felix Project in Chile. It has been brought to the Company’s attention that its legal due diligence and landman service in Chile incorrectly identified a concession named San Agustin 1-10 covering a total of 90 hectares as being part of the Company’s San Felix Project. The Company would like to clarify that the option agreement through which the Company holds the San Felix Project does not include the land covered by the San Agustin 1-10 concession and the Company does not have any right or title to such concession. The Company’s San Felix Project still consists of 23 mining concessions for a total of 2,380 hectares.

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BP oil concession in Abu Dhabi at risk in political row between UK and UAE

Category : Business

BP’s exclusion from bidding to renew its concession thought to be reprisal for British criticism of crackdown on Islamist groups

One of BP’s longest-running energy concessions is threatening to become a high-profile victim of tensions between the United Arab Emirates and Britain over criticism of the Middle East state’s crackdown on Islamist extremist groups.

BP was first given a stake in a vast onshore oil field in Abu Dhabi back in 1939, but the concession comes up for renewal in 2014 and BP has been excluded from the bidding list.

The UAE is one of the top five oil exporters in the world and Abu Dhabi is the headquarters for BP’s entire exploration and production operation across the Middle East – the birth place a century ago of the business as the Anglo-Persian Oil Company.

BP said “discussions are still continuing” with the UAE authorities but its exclusion from the bid is a major blow. The company is already in the middle of a row with Azerbaijan over falling output there, and has been hit by a series of serious problems in recent years, most notably the Deepwater Horizon oil spill in the Gulf of Mexico.

The oil major is privately said to be still hopeful the British government can sweet-talk the UAE into changing its mind at a time when its chief rivals, Royal Dutch Shell, ExxonMobil and others have been accepted as prequalified to bid.

UAE officials have also accepted privately that BP’s failure to make the list of bidders is a problem associated with the UK government rather than the company. Oil analysts in London, who preferred not to be named, said it was generally accepted that BP was the victim of a wider political row.

The UAE has indicated that it is still to make a final decision on the issue, giving it leverage to encourage the UK government to dissuade political commentators in Britain from giving what it perceives as support to Islamist groups such as al-Islah.

According to Human Rights Watch, the group – whose name translates as Reform and Social Guidance – is a “non-violent political assocation advocating greater adherence to Islamic precepts”.

BP holds a 9.5% holding in the 1.4m barrels-a-day concession alongside four western oil majors and the local state-owned group Abu Dhabi National Oil Company.

The loss of its interests would deprive the company of 125,000 barrels a day, which is around 3.5% of its total global production.

This is a significant amount given that BP is struggling to keep its volumes from falling, especially at a time when it is in the middle of selling its 50% stake in TNK-BP, its highly productive Russian operation.

The financial loss from Abu Dhabi, however, would be less pronounced as the company is only paid around $1 for each barrel produced under the terms of the concession, which is structured as a “contractor fee”.

Abu Dhabi is one of the few Gulf states that allow western companies to explore for oil, and BP’s exit would be a blow to the company’s image as a blue-chip operator in demand all over the world. BP does not have any business in other major Middle East producers such as Saudi Arabia, but it does have oil interests in Iraq. It also has gas production in Oman and is developing gas fields in Sharjah.

CYGAM Energy Announces Tunisian Operational Update

Category : Stocks

CALGARY, ALBERTA–(Marketwire – Nov. 1, 2012) - CYGAM Energy Inc. (“CYGAM”) (TSX VENTURE:CYG) is pleased to provide an operational update regarding the TT Field in the BBT Concession in Tunisia. Through a wholly-owned subsidiary, CYGAM holds a 14% working interest in the Concession. Partners in the concession are block holder, Enterprise Tunisienne D’Activites de Petrolieres (“ETAP”) and Chinook Energy (86% interest and operator).

Originally posted here: CYGAM Energy Announces Tunisian Operational Update

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San Leon Energy Plc (SLGYY: OTC Link) | Spud of Czaslaw SL-1 Well, Nowa Sol Concession

Category : Stocks

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The World Bank’s arbitration panel orders Ecuador to pay Occidental Petroleum (OXY) $1.77B to settle a contract dispute after the country stripped OXY of its oil concession in 2006. The government has said it won’t comply with any ruling not to…

Category : World News

The World Bank’s arbitration panel orders Ecuador to pay Occidental Petroleum (OXY) $1.77B to settle a contract dispute after the country stripped OXY of its oil concession in 2006. The government has said it won’t comply with any ruling not to its liking. OXY +0.9% AH. 2 comments!

Follow this link: The World Bank’s arbitration panel orders Ecuador to pay Occidental Petroleum (OXY) $1.77B to settle a contract dispute after the country stripped OXY of its oil concession in 2006. The government has said it won’t comply with any ruling not to…

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Eco Oro Minerals Receives Decision of National Mining Agency

Category : Stocks, World News

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Aug. 27, 2012) - Eco Oro Minerals Corp. (the “Company” or “Eco Oro”) (TSX:EOM) announces that the Company has received a decision of Colombia’s national mining agency (Agencia Nacional de Mineria or “ANM”), contained in Resolution VSC 002 dated August 8, 2012 (the “Resolution”), regarding the Company’s application for an extension of the exploration phase of the Company’s principal mining title, concession contract 3452 (the “Concession”). In the Resolution, the ANM indicates that approximately 54% of the Concession is located in what they regard as Santurban páramo based on the cartographic information contained in the National Mining Registry prepared by the Von Humboldt Institute (Instituto Alexander Von Humboldt or “IAVH”)) and, on that basis, have extended only the remaining 46% of the Concession for 2 years, until August 8, 2014. In addition, the ANM is requiring that the Company revise the technical report detailing the Company´s current and proposed exploration activities on the Concession, which was submitted with the Company’s May 4, 2012 application for the extension, such that the Company’s activities on the Concession are limited to the areas of the Concession that are the subject of extension. The Resolution also provides that the Resolution should be forwarded, once it becomes final, to the area of the ANM responsible for the mining contracts and titles to take appropriate measures to have the areas of the Concession not subject to the extension returned. The portion of the Concession that was not extended and that is to be returned, pursuant to the Resolution, contains approximately 70% of the Company’s Angostura deposit.

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Merkel defends compromise on euro

Category : Business, World News

Chancellor Merkel defends a deal to use eurozone bailout funds to help banks, a concession to Spain and Italy which sends stocks soaring.

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