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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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UK business confidence ‘improving’

Category : Business

Confidence among UK businesses is continuing to improve, a survey suggests, despite slow growth in the economy.

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Card charges complaints continue

Category : Business, World News

The consumer organisation Which? says it is continuing to receive complaints from customers who say they have been overcharged for using a debit or credit card.

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Yum Brands still struggling in China amid bird flu fears

Category : Business

Yum Brands said Wednesday that its same-store sales in China had dropped amid a continuing food-safety scare.

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S&P reaffirms UK triple-A rating

Category : Business

Credit rating agency Standard & Poor’s reaffirms its triple-A rating for the UK, but warns of the continuing negative outlook for the economy.

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China factory pace at 11-month high

Category : Business

Chinese manufacturing activity increases at its fastest pace in 11 months during March, indicating that an economic recovery is continuing.

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Teachers announce series of strikes

Category : Business, World News

Teachers in England and Wales are to stage a series of strikes in a continuing row over pay, pensions and workload, unions have announced.

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Champion Industries, Inc. (CHMP: OTCQB) | Champion Announces Results For First Quarter 2013 And Charges

Category : Stocks

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Champion Announces Results For First Quarter 2013 And Charges

PR Newswire

HUNTINGTON, W.Va., March 15, 2013

HUNTINGTON, W.Va., March 15, 2013 /PRNewswire/ — Champion Industries, Inc. (OTCQB/CHMP) today announced a net loss from continuing operations of $(3.3) million or $(0.29) per share on a basic and diluted basis for the quarter ended January 31, 2013 compared to a net loss from continuing operations of $(83,000) or $(0.01) per share on a basic and diluted basis for the quarter ended January 31, 2012. The Company reported a net loss from discontinued operations for the quarter ended January 31, 2013 of $(291,000) compared to a net loss from discontinued operations for the quarter ended January 31, 2012 of $(3,000) or $(0.02) and $(0.00) on a basic and diluted per share basis.

The results for 2013 over 2012 reflected a substantial decrease in earnings, primarily as a result of pre-tax non-cash impairment charges associated with goodwill of $(2.2) million associated with the printing segment as well as higher interest costs primarily associated with the amortization of debt discount associated with warrants issued to the Company’s secured lenders.

Marshall T. Reynolds, Chairman of the Board and Chief Executive Officer of Champion, said, “Our results continue to be impacted by various non-cash events but we continue to generate positive cash flow from operating activities. If we examine our gross profit, which is a key starting point for profitability, our gross profit dollars were $6.7 million in first quarter 2013 and $8.1 million in first quarter 2012. However, this decrease was substantially offset by a reduction in SG&A expenses of $1.3 million. In other words, in spite of the numerous hurdles and challenges we have faced and actions we have taken in recent years, in the final analysis we were able to essentially hold our core business relatively stable in the first quarter of 2013. We intend to work with our secured creditors and advisors to address our debt maturities and liquidity to the best of our ability and if successful in stabilizing our funding platform going forward, we believe our core business has the opportunity to improve.”

The above-mentioned net (loss) figures resulted in basic and diluted loss per share from continuing operations of $(0.29) for the quarter ended January 31, 2013 compared with a loss of $(0.01) on a basic and diluted loss per share basis for the comparable quarter of 2012. The Company’s results in 2013 and in 2012 are reflective of a continuation of the most difficult operating environment the Company has ever faced, primarily within the printing segment and secondarily in the newspaper segment.

The Company experienced a decrease in sales for the quarter of $3.9 million, or 14.8%, from $26.5 million in 2012 to $22.6 million in 2013. The printing segment of the business reflected a sales decrease of $2.6 million or 18.1%, with the office products and office furniture segment showing an overall sales decrease of $1.0 million, or 12.0%.

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G4S bullish after Olympics debacle

Category : Business, World News

Security firm G4S reports a rise in revenues in 2012 and says it expects “good continuing organic growth” in 2013 as it attempts to put the Olympics debacle behind it.

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Row over Amazon ‘rape’ T-shirt

Category : Business, World News

Internet retailer Amazon is continuing to list clothes from a US firm despite a row over a T-shirt with the slogan “keep calm and rape a lot”.

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SEACOR Holdings Announces Results for the Year and Fourth Quarter Ended December 31, 2012

Category : Stocks

FORT LAUDERDALE, FL–(Marketwire – Feb 27, 2013) –  SEACOR Holdings Inc. (NYSE: CKH) today announced its results for the fourth quarter ended December 31, 2012. For the year ended December 31, 2012, net income attributable to SEACOR Holdings Inc. was $61.2 million, or $2.95 per diluted share, including income from continuing operations of $34.4 million, or $1.66 per diluted share. For the year ended December 31, 2011, net income attributable to SEACOR Holdings Inc. was $41.1 million, or $1.91 per diluted share, including income from continuing operations of $32.7 million, or $1.52 per diluted share.

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