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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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Netflix stock goes bananas

Category : Stocks

With cult comedy hit “Arrested Development” set to soon make its debut on Netflix, subscribers and investors are excited for the return of the Bluths.

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Medical Marijuana, Inc. (MJNA: OTC Pink Current) | Medical Marijuana Inc., Posts 1st Quarter Audited Financial and Disclosure Statements Net Income Exceeds Quarterly Projections

Category : Stocks, World News

Medical Marijuana Inc. Posts 1st
Quarter Audited Financial and Disclosure Statements

Net Income Exceeds Quarterly Projections

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BG Group Plc (BRGYY: OTCQX International Premier) | BG Group Strategy Update – 14 May 2013

Category : Stocks, World News

BG Group Strategy Update

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Joint Ministerial Statement by the Honourable Keith Ashfield, Minister of Fisheries and Oceans, and the Honourable Leona Aglukkaq, Member of Parliament for Nunavut and Minister of the…

Category : Stocks, World News

…Canadian Northern Economic Development Agency (CanNor)

Follow this link: Joint Ministerial Statement by the Honourable Keith Ashfield, Minister of Fisheries and Oceans, and the Honourable Leona Aglukkaq, Member of Parliament for Nunavut and Minister of the…

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Grand Campus Living Development Wins Innovator Award

Category : Stocks, World News

DALLAS, TX–(Marketwired – Apr 25, 2013) – On April 11th, 2013 the third annual InterFace Student Housing conference took place at the Hilton Austin in Austin, TX. The 2013 Innovator Awards were distributed to companies who demonstrated excellence and innovation in student housing. Grand Campus Living, a division of Lincoln Property Company, won “Best New Development of a Property with Fewer Than 200 Beds.” Grand Campus Living, alongside development partner Fountains Residential Partners, earned this distinction for their development The Vue in Fort Worth, TX. As the recipient of one of only three awards given for new off-campus housing, Grand Campus Living has established itself as a leader in student living and housing development.

Originally posted here: Grand Campus Living Development Wins Innovator Award

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How housebuilding helped the economy recover: Britain in the 1930s

Category : Business

New development created a third of the increase in GDP between 1932 and 1934. Could we repeat the experience today?

In the early 1930s Britain recovered impressively from a double-dip recession which ended in 1932. In every year from 1933 to 1936, before rearmament could have made any difference, growth exceeded 4% per year. Growth was not driven by fiscal stimulus; indeed it blossomed at a time of fiscal consolidation. So what was the magic formula?

The main ingredient was the “cheap-money policy“. From the middle of 1932, short-term interest rates were reduced close to zero and monetary policy was expansionary enough to stop prices falling and sustain mild inflation in pursuit of a target, set by the chancellor, Neville Chamberlain, to return prices to the 1929 level. The approach was similar in many respects to “Abenomics” in today’s Japan.

How did the cheap-money policy stimulate the real economy? A very important channel was through development of new housing. The number of houses built by the private sector rose from 133,000 in 1931-32 to 293,000 in 1934-35 and 279,000 in 1935-36. Many of these dwellings are the famous 1930s semi-detacheds which proliferated around London and more generally across southern England.

These figures are way ahead of any other year since the second world war. The building of these houses directly contributed an additional £55m to economic activity by 1934, and multiplier effects from increased employment probably raised the total impact to £80m – or a third of the increase in GDP between 1932 and 1934.

House building reacted to the reduction in interest rates and also to the recognition by developers that construction costs had bottomed out; both of these stimuli resulted from the cheap money policy.

House building was responsive in the 1930s for two reasons. First, the supply of mortgage finance grew rapidly and became more affordable in an economy in which there had been no financial crisis that curtailed lending. Building society mortgage debt rose from £316m with 720,000 borrowers in 1930 to £636m with 1,392,000 borrowers in 1937 when about 18% of non-agricultural working-class households were buying or owned their own homes.

In these years, deposits fell in some cases to 5% and repayment terms were extended from around 20 to 25 or even 30 years, reducing weekly outgoings by 15%.

Second, houses were affordable to an increasing number of potential buyers: 85% of new houses sold for less than £750 (£45,000 in today’s money). Terraced houses in the London area could be bought for £395 in the mid-1930s when average earnings were about £165 per year. Houses were cheap because the supply of land for housing was very elastic, which in turn meant that there was no incentive for developers to sit on large land banks. Underpinning the availability of land for house-building was an almost complete absence of land-use planning restrictions which applied to only about 75,000 acres in 1932; the draconian provisions of the 1947 Town and Country Planning Act were still to come.

Could we repeat the 1930s experience today? It would be very difficult since both mortgage availability and planning rules are very different. Nevertheless, given that we build far fewer houses than are needed to cope with the number of extra households each year, it is desirable to increase the supply of new houses.

A 1930s-style house building boom would not only be a great boost to economic recovery but would also address real social need. The directions for reforms which could re-create 1930s conditions are clear enough but, sadly, politically too difficult.

Nicholas Crafts is professor of economics at the University of Warwick

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Nighthawk Energy plc (NHEGY: OTCQX International) | Operational Update

Category : World News

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Medicago Inc. (MDCGF: OTCQX International) | Medicago and IDRI Reports Positive Results for its Phase I Clinical Trial for an H5N1 Vaccine

Category : Stocks, World News

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Medicago and IDRI Reports Positive Results for its Phase I Clinical Trial for an H5N1 Vaccine

PR Newswire

QUEBEC CITY, and SEATTLE, WA, April 17, 2013

- All three configurations of adjuvant and route of administration
exceeded the three CHMP criteria-

QUEBEC CITY, and SEATTLE, WA, April 17, 2013 /PRNewswire/ – Medicago
Inc. (TSX: MDG; OTCQX: MDCGF), a biopharmaceutical company focused on
developing highly effective and competitive vaccines based on
proprietary manufacturing technologies and Virus-Like Particles (VLPs)
and The Infectious Disease Research Institute (IDRI), a Seattle-based
non-profit research organization that is a leading developer of
adjuvants used in vaccines combating infectious disease, today reported
positive interim results from a Phase I clinical trial for an H5N1
Avian Influenza VLP vaccine candidate (“H5N1 vaccine”). The results
were announced at the World Vaccine Congress in Washington, DC. The
H5N1 vaccine was found to be safe and well-tolerated and induced a
solid immune response exceeding the three CHMP (Committee for Medicinal
Products for Human Use) immunogenicity criteria for licensure of
influenza vaccines. The vaccine was tested in three different
configurations: using IDRI’s Glucopyranosyl Lipid A (“GLA”) formulated
adjuvant, given both intramuscularly and intradermally, and using alum
intramuscularly. All three configurations exceeded the CHMP criteria.

“These positive U.S. clinical trial results

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Phosphagenics Ltd. (PPGNY: OTCQX International) | Home Country News Release – 2013 Apr 05 Phosphagenics Oxycodone Patch Resumes Clinical Development

Category : Stocks

Phosphagenics Ltd. has filed a Home Country News Release – 2013 Apr 05 Phosphagenics Oxycodone Patch Resumes Clinical Development To view the full release click here (link to PDF).

Go here to read the rest: Phosphagenics Ltd. (PPGNY: OTCQX International) | Home Country News Release – 2013 Apr 05 Phosphagenics Oxycodone Patch Resumes Clinical Development

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AusTex Oil Limited (ATXDY: OTCQX International) | Home Country News Release – Well Development Program Continues at Snake River

Category : Stocks, World News

AusTex Oil Limited has filed a Home Country News Release – Well Development Program Continues at Snake River To view the full release click here (link to PDF).

More here: AusTex Oil Limited (ATXDY: OTCQX International) | Home Country News Release – Well Development Program Continues at Snake River

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