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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to 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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Leveson conflict over statute hides real debate about how regulator would work

Category : Business

Intense, often bitter discussions focus on how regulator can be independent of editors while not impinging on press freedom

It will be difficult for politicians to avoid hyperbole when they take part in Monday’s Commons debate over press regulation. David Cameron will surely raise aloft the press freedom banner handed to him by publishers and editors in order to persuade MPs not to take the country back 300 years to the licensing of newspapers.

On the other side, Ed Miliband and Nick Clegg will remind their party comrades of the journalistic misbehaviour catalogued during Lord Justice Leveson’s inquiry and insist that the only way to prevent it reoccurring is to legislate.

This will be a weekend of intense lobbying. Tory MPs who have previously favoured statute will be reminded of the need for party loyalty. Fringe parties, who could prove so important, will surely be contacted too.

But it is important to grasp that the conflict over whether or not to underpin the royal charter with statute is merely the public facade concealing an increasingly complicated, and often bitter, set of disputes behind the scenes.

What is really at issue is the contradiction at the heart of the oxymoron that dogged the Leveson inquiry: “independent self-regulation”. The intense political discussions have been less about statute than about the difficulty of constructing a regulatory system that can be genuinely independent of editors without impinging on their freedom to go about their public mission to hold power to account.

I understand that the prime minister, and even editors, might well have been relaxed about accepting the famous “dab of statute”. Of much greater concern, however, are the exact arrangements involved in running a new system.

Essentially, the fear of many editors is that they would lose control of the regulator to people outside the industry. They therefore wish to have a veto on who sits in judgment on their activities and even over the writing of a new ethical code.

They also wish to find some way of ensuring that the levying of fines, should that ever be necessary, would be subject to some kind of industry oversight. In other words, the majority of publishers and editors wish to stipulate that self-regulation has to mean what it says. They must retain the levers of power.

It is possible that these hugely important details will be raised by MPs, but they may get drowned out by the noise of the press freedom ballyhoo.

The problems have certainly been aired at length, and with increasing ferocity, in the private industry discussions overseen by Trinity Mirror’s legal director Paul Vickers. He has watched the initial acceptance by editors of Leveson’s recommendations gradually fall apart.

Given Thursday’s arrests of four former and current senior staff at Trinity Mirror, he will be especially and acutely aware of the continuing pressure on national newspapers. Both within the industry, and abroad, there is a growing belief that British press freedom is under threat because of the wave of arrests.

However, the public – the people who vote politicians into power – tend to see matters very differently. They view the press as some kind of homogenous institution, a power in the land, and one that has been somehow corrupted.

MPs who will decide the fate of press regulation cannot be other than aware that trust in journalism is at a low ebb just now. That could well influence how they vote on Monday.

Sporting village plan for Belfast

Category : Business

Discussions are under way about transforming the Boucher Road area of south Belfast into a sporting village.

Read more here: Sporting village plan for Belfast

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Why did Dell force employees to sell shares?

Category : Business, Stocks

Dell made employees dump shares in the midst of buyout discussions.

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Hilco in talks over Jessops brand

Category : Business, World News

The restructuring company, Hilco, is in discussions with the administrators PricewaterhouseCoopers about acquiring the Jessops brand.

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Category : Stocks

Golden Age Resources, Inc. (OTC Pink:

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Sundance Energy to Pursue Alternative Financing and Transaction Opportunities

Category : World News

CALGARY, ALBERTA–(Marketwire – Aug. 31, 2012) - Sundance Energy Corporation (“Sundance” or the “Corporation“) (TSX VENTURE:SNY) (OTCQX:SNYXF) announces that at this time it will not be proceeding with its previously announced $0.12 per Unit flow-through financing. Although Sundance had received expressions of interest exceeding the minimum closing amount of $500,000 set by management, its board of directors has decided to instead pursue alternative sources of financing to develop its properties at Alexander, Central Alberta, and Ochapowace and Muskowekwan in SE Saskatchewan. Potential opportunities available to Sundance and which are in discussions include third party joint ventures or farm-ins, and certain other forms of corporate transactions that Sundance’s management and board of directors believes if finalized will offer more accretive value to its shareholders than would closing the proposed financing.

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Standard Chartered (SCBFF.PK) is in discussions with multiple authorities to settle, possibly this week, the investigations into its dealings with Iran, Reuters reported yesterday. One set of talks is with New York’s bank regulator and the other…

Category : Stocks

Standard Chartered (SCBFF.PK) is in discussions with multiple authorities to settle, possibly this week, the investigations into its dealings with Iran, Reuters reported

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Icahn Wins Chesapeake Energy Board Battle

Category : Stocks

Chesapeake Energy board story updated to reflect analyst comments, additional data and closing share prices

NEW YORK (TheStreet) — Chesapeake Energy has settled a campaign raised by activist investor Carl Icahn to give shareholders of the struggling oil and gas company four board seats. It’s a significant win for Icahn, but Chesapeake Energy still faces a crucial task of selling billions in oil and gas assets amid slumping commodity prices to meet a projected a second half cash shortfall.

The company said that following “extensive discussions” with its two largest shareholders, Southeastern Asset Management and Icahn, it has agreed to add four new independent directors to replace four existing independent directors who will resign from Chesapeake’s board. Three of the new independent directors will be proposed by Southeastern and the fourth will be proposed by Icahn. …

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Diageo (DEO) agrees to acquire Ypioca, a maker of popular Brazilian spirit cachaca, for £300M ($469M) from its family owners as it continues its strategy of expanding in high-growth emerging markets. The acquisition comes as Diageo carries out…

Category : World News

Diageo (DEO) agrees to acquire Ypioca, a maker of popular Brazilian spirit cachaca, for

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IMF raises $430 billion to double crisis resources

Category : World News

The International Monetary Fund has raised more than $430 billion in an effort to assure finance markets that it has sufficient firepower to handle any new problems from Europe’s prolonged debt crisis.
IMF Managing Director Christine Lagarde announced the new figure at the conclusion of the discussions among finance officials of the Group of 20 major economic powers Friday.

Read the original here: IMF raises $430 billion to double crisis resources

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