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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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Metaswitch Networks Announces Project Clearwater

Category : Stocks, World News

Software Innovator Contributes Cloud-Based IMS Core Platform to an Open Source Project Intended to Accelerate Telco Innovation

Go here to read the rest: Metaswitch Networks Announces Project Clearwater

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Big five UK banks rue ‘dire year’ as £11bn of fines erase profit gains

Category : Business

PPI scandal and fines undermine improved performance at Barclays, HSBC, Lloyds, RBS and Standard and Chartered

An increase in profits at the big five UK banks was wiped out by more than £11bn of fines and compensation payments in 2012.

Despite an improved core business performance, fines from regulators and the costs of the mis-selling of payment protection insurance contributed to a 40% cumulative drop in profits from 2011 to £11.7bn, according to accountants KMPG.

Barclays, HSBC, Lloyds Banking Group, RBS and Standard Chartered posted results in a year where bleak headlines included the Libor scandal, the mis-selling furore, and slack control of money laundering.

KPMG’s bank performance benchmarking report concluded that banks had improved in their core performance due to better credit performance, or fewer bad loans, and stronger results from investment banking divisions, helped by more positive sentiment over the eurozone’s future.

Alongside the punitive costs banks incurred, profits were also written down because of a £12.8bn revaluation of the banks’ debt. Bill Michael of KPMG said: “Banks had a better performance year in 2012 but their improved core profits were eaten up by fines and other exceptional items. In terms of their reputations, 2012 was a dire year. This is why it is so important for them to address cultural and ethical perceptions and issues. Restoring customer trust is critical.”

KPMG warned that banks would need to significantly reduce costs to convince shareholders they could continue to generate strong returns, including cutting staff and wage bills.

The warning comes amid reports that Lloyds, bailed out by the taxpayer during the credit crunch, paid more than 20 of its staff more than £1m last year. Details of its high earners will be revealed in its annual report this week, but the bank said it could not comment on speculation.

Profit at Big Five banks ‘wiped out’

Category : Business

The major UK banks saw their core profits for 2012 wiped out by a mix of regulations and their own mistakes, a KPMG report says.

Follow this link: Profit at Big Five banks ‘wiped out’

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VIDEO: How a liquor brought down EU barriers

Category : Business

The EU seeks to protect one of its core principles – the single market – which aims to offer a level playing field for businesses across the continent.

Original post: VIDEO: How a liquor brought down EU barriers

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Linc Energy, Ltd. (LNCGY: OTCQX International) | Home Country News Release – Linc Energy’s First Umiat Drilling Extracts Core Samples

Category : Stocks, World News

Linc Energy, Ltd. has filed a Home Country News Release – Linc Energy’s First Umiat Drilling Extracts Core Samples To view the full release click here (link to PDF).

See the original post: Linc Energy, Ltd. (LNCGY: OTCQX International) | Home Country News Release – Linc Energy’s First Umiat Drilling Extracts Core Samples

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LIG Assets, Inc. (LIGA: OTC Link) | LIG Assets, Inc. Sells SuiteMagic, Inc. to Focus on Core Real Estate Business

Category : Stocks

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LIG Assets, Inc. Sells SuiteMagic, Inc. to Focus on Core Real Estate Business

PR Newswire

DALLAS, March 8, 2013

DALLAS, March 8, 2013 /PRNewswire/ –

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LIG Assets, Inc. (LIGA: OTC Link) | LIG Assets, Inc. Sells SuiteMagic, Inc. to Focus on Core Real Estate Business

Category : Stocks, World News

< ?xml version="1.0" encoding="UTF-8"?>

LIG Assets, Inc. Sells SuiteMagic, Inc. to Focus on Core Real Estate Business

PR Newswire

DALLAS, March 8, 2013

DALLAS, March 8, 2013 /PRNewswire/ –

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LIG Assets, Inc. (LIGA: OTC Link) | LIG Assets, Inc. Sells SuiteMagic, Inc. to Focus on Core Real Estate Business

Category : Stocks

< ?xml version="1.0" encoding="UTF-8"?>

LIG Assets, Inc. Sells SuiteMagic, Inc. to Focus on Core Real Estate Business

PR Newswire

DALLAS, March 8, 2013

DALLAS, March 8, 2013 /PRNewswire/ –

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LIG Assets, Inc. (LIGA: OTC Link) | LIG Assets, Inc. Sells SuiteMagic, Inc. to Focus on Core Real Estate Business

Category : Stocks, World News

< ?xml version="1.0" encoding="UTF-8"?>

LIG Assets, Inc. Sells SuiteMagic, Inc. to Focus on Core Real Estate Business

PR Newswire

DALLAS, March 8, 2013

DALLAS, March 8, 2013 /PRNewswire/ –

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Fire River Gold Corp. (FVGCF: OTC Link) | Fire River Drills 5.35 Metres Grading 53.98 g/t Gold at Nixon Fork

Category : Stocks, World News

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Fire River Drills 5.35 Metres Grading 53.98 g/t Gold at Nixon Fork

PR Newswire

VANCOUVER, Feb. 28, 2013

VANCOUVER, Feb. 28, 2013 /PRNewswire/ – Fire River Gold Corp. (TSXV: FAU),
(OTCQX: FVGCF), (FSE: FWR) (the “Company” or “Fire River”) is pleased
to announce results from its November and December 2012 underground
diamond drilling program (Figure 1 and 2) at its wholly owned Nixon
Fork Gold Project in Alaska.

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