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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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EURO Ressources Reports Earnings for the Quarter Ended March 31, 2013

Category : World News

PARIS–(Marketwired – May 11, 2013) – EURO Ressources S.A. (“EURO” or the “Company”) (PARIS: EUR) today announced its unaudited interim financial results prepared in accordance with International Financial Reporting Standards (“IFRS”) for the quarter ended March 31, 2013. These unaudited financial results were approved by the Board of Directors on May 9, 2013. 

Go here to see the original: EURO Ressources Reports Earnings for the Quarter Ended March 31, 2013

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Cable wants RBS prosecution decision

Category : Business, World News

Business Secretary Vince Cable writes to the Scottish legal authorities urging a rapid decision on whether to prosecute former directors of RBS.

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Rostelecom (ROSYY: OTCQX International Premier) | ROSTELECOM’S BOARD OF DIRECTORS SETS THE DATE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS AND RECOMMENDS DIVIDEND PAYMENT FOR 2012

Category : World News

Moscow, Russia – April 26, 2013 – Rostelecom OJSC (MICEX – RTS:
RTKM, RTKMP; OTCQX: ROSYY) (“the Company”), Russia’s national
telecommunications operator, announces that its Board of Directors has set the
date for the 2012 Annual General Meeting of Shareholders (the “AGM”).

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Financial workers sail through ‘fit and proper’ tests

Category : Business

Financial regulator turned down an average of one appointment for every 7,566 proposed in past six years, figures show

Britain’s financial regulator has blocked just 30 of a possible 227,000 applications to the sector’s most risk-sensitive jobs in the six years since the banking crisis erupted.

The renamed Financial Conduct Authority (FCA) rejected an average of one appointment for every 7,566 proposed by banking, insurance and other finance firms under the terms of its “approved persons” regime between April 2007 and the end of 2012, according to figures seen by Reuters.

Regulators overseeing London’s financial industry have been at the forefront of a Europe-wide drive to increase professional standards by scrutinising candidates slated for key roles, to try to ensure they have the requisite skills to do their jobs.

Members of the financial community said the rules, tightened in late 2008, would impede company hiring plans, and 1,850 of the 40,997 candidates put forward in the year to April 2009 voluntarily withdrew applications for approved status.

But the latest figures show the number of people withdrawing from assessment has fallen sharply, while rejections from the FCA have remained negligible.

Will Pomroy, corporate governance policy adviser at the National Association of Pension Funds, said he hoped the small number of failed applications reflected more robust assessments of staff competence, capability, honesty and integrity at company level.

“Investors expect the board to take responsibility – and be accountable – for setting the culture from the top and ensuring it filters down throughout the workforce,” Pomroy said. “They would not want to be relying solely on the assessments of the regulator for each individual employed in a controlled function – of which there are a large number.”

But others said they drew less comfort from the figures, suggesting that rejections might have fallen because staff were being coached to pass the tests or giving up promotion prospects because they did not want to risk humiliation, or other consequences, if they failed.

“Think of it in terms of Heisenberg’s uncertainty principle or the observer effect: directors are like subatomic particles, they behave differently under observation,” one industry sceptic said, on condition of anonymity.

The FCA does not break down rejections by year, but annual figures show the number of applications and withdrawals. The latest full-year figures show withdrawals came in at just 597 in the year to April 2012, against a peak of 1,850 in the year to April 2009.

“In addition to 30 applications for approval being formally refused since 2007, during the same period, over 7,000 applications were withdrawn after submission – many of which were after close scrutiny by the FSA,” a spokeswoman for the regulator said.

The UK’s “fitness and probity” process is one of the broadest in Europe, encompassing senior management and directors, and staff working in compliance, risk and internal audit across all firms authorised by the regulator.

Most assessments are done in writing but the regulator routinely interviews candidates for the most senior roles in “high-impact firms”, and carries out other interviews on a “risk-based approach if there are concerns about a candidate or firm”, the spokeswoman added.

Cable considers HBOS bankers action

Category : Business, World News

Vince Cable launches moves which could lead to three former HBOS directors being banned from serving as company bosses.

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Grupo Financiero Banorte, S.A.B. De C.V. (GBOOY: OTCQX International Premier) | FIRST NOTICE – GFNorte´s EGM-AGM Shareholder´s Meeting – April 26th, 2013

Category : World News

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RusHydro JSC (RSHYY: OTCQX International Premier) | Results of the Board of Directors on April 2, 2013

Category : World News

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JSC RusHydro (ticker symbols: RTS, MICEX, LSE: HYDR; OTCQX: RSHYY) announces that the Board of Directors approved participation of the Company in four companies created to implement the construction of new generating facilities in the Far East: heat and power plant in Sovetskaya Gavan’, the Sakhalinskaya power plant No.2, the Yakutskaya power plant No.2

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RusHydro JSC (RSHYY: OTCQX International Premier) | Results of the Board of Directors on March 29, 2013

Category : Stocks, World News

Results of the Board of Directors on March 29, 2013< ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

JSC RusHydro (ticker symbol: MICEX-RTS, LSE: HYDR; OTCQX: RSHYY) announces that the Company’s Board of Directors held a meeting in absentia on March 29, 2013.

***

The Board of Directors approved the report on 2012 business-plan execution (including report on implementation of investment program, comprising report on implementation of generating facilities modernization program in 2012).

Electricity generation and output by RusHydro’s power plants for the 2012 totaled 105.2% and 105.9% of the planned volumes respectively. The slight overshoot was a result of favorable hydrological conditions and regimes allowed by the Federal Water Resources Agency.

In 2012, as a part of RusHydro`s investment program implementation a number of construction works were completed, including:

  • two hydropower units were installed at the Zagorskaya pumped storage plant No. 2 (420 MW);
  • hydropower units No.1-6 (1,998 MW) were commissioned at the Boguchanskaya HPP.

Technical upgrade and reconstruction works and capacity installation at the Volzhskaya HPP (15.5 MW), the Kamskaya HPP (9 MW) and the Kabardino-Balkaria branch (2 MW) were also completed.

In 2012, three new hydropower units (1,920 MW) at the Sayano-Shushenskaya HPP and three hydropower units at the Baksanskaya HPP (25 MW) were also commissioned.

Financing of investment program in 2012 including projects of comprehensive modernization program for 2012-2025 amounted to RUR 97.07 bn or 99% of financing plan.

Actual financing of technical rehabilitation and modernization projects totaled RUR 33.12 bn or 127% of the annual plan of RUR 26.13 bn. The increase of financing was due to the additional reconstruction of hydro turbines at the Volzhskaya HPP, the Zhigulevskaya HPP, the Kamskaya HPP and other HPPs.

***

The Board of Directors approved RusHydro`s business-plan for 2013, including the investment program, quarterly and yearly KPIs and quarterly financing plans for 2013. Furthermore, the Company’s Board of Directors approved the Company’s business plan for 2014-2017, including the investment program for 2014-2017.

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RusHydro JSC (RSHYY: OTCQX International Premier) | Agenda of the Board of Directors on April 2, 2013

Category : Stocks, World News

Agenda of the Board of Directors on April 2, 2013< ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

JSC RusHydro announces the agenda of the Board of Directors to be held in absentia today, April 2, 2013.

The agenda includes the following items:

1.

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STL Marketing Group, Inc. (STLK: OTC Pink Current) | STL Marketing Group, Inc. (OTC: STLK) Announces Slight Delay with Power Purchase Agreement

Category : Stocks, World News

VTRES Bache SRL, a subsidiary of STL
Marketing Group, Inc. (OTC: STLK), announces a delay to the Power Purchase
Agreement.

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