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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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Angela Merkel urges David Cameron to crack down on tax havens

Category : Business

The two leaders also discussed EU trade during talks in Berlin

The coalition’s plans to crack down on Britain’s tax havens were discussed at a meeting between David Cameron and chancellor Angela Merkel, amid growing concerns in Germany. Merkel is understood to have

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VIDEO: Football India’s ‘fastest growing sport’

Category : Business, World News

The Premier League’s chief executive Richard Scudamore is in India with David Cameron, on what Downing Street says is the largest trade delegation taken on an overseas trip by a UK prime minister.

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PM vows to protect OAP benefits

Category : Business, World News

Universal benefits for pensioners will be protected for almost a year after the 2015 general election, Downing Street says.

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Martin Rowson on the government’s approach to energy policy – cartoon

Category : Business

Downing Street insists it will press ahead with legislation to require electricity companies to offer cheapest tariffs

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TUC backs co-ordinated strikes

Category : World News

The TUC votes to back co-ordinated strikes over the public sector pay freeze – but Downing Street says industrial action will change nothing.

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Sell best council houses – No 10

Category : Business

Councils should consider selling off their most expensive houses to build more cheap homes, says Downing Street.

Excerpt from: Sell best council houses – No 10

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David Cameron holds 17 summits to boost UK economy

Category : Business

Government seeks to exploit presence of heads of state during Olympics to raise at least £1bn of inward investment

David Cameron is convening a total of 17 summits in London over the next month as the government seeks to exploit the presence of scores of heads of government and state for the Olympics to raise at least £1bn of inward investment.

Senior ministers have been banned from taking an early summer holiday as the government runs a strict rota tries to ensure Britain is properly represented at the summits, which will be devoted to different parts of the world and different industrial sectors.

One of the highlights of a month of intense diplomacy will come on Thursday when the government hosts a Global Investment Conference at Lancaster House which has been renamed the British Business Embassy during the Olympics. This will be attended by 200 ministers and business leaders from around the world.

Nick Baird, the chief executive of UK Trade and Investment, the government body that is organising the summit, said he hopes to attract £1bn of investment. “We will be hosting 17 business summits, nearly 4,000 top business guests and we hope for £1bn of business,” Baird tweeted. No 10 declined to deny reports that the government hopes to attract as much as £4bn in investment.

The investment summit will take place on the day that the prime minister receives Mitt Romney in Downing Street. The Republican nominee for the US presidential election will be stopping off in London for the opening ceremony of the Olympics at the start of a tour that will also take him to Poland and Israel.

The first of the 17 London summits devoted to a country – China – will take place at Lancaster House on Friday hours before the formal opening ceremony of the Olympics. A summit devoted to Brazil, whose president Dilma Rousseff will be greeted in No 10 by Cameron on Wednesday, will be held on 11 August.

The official reason for the China and Brazil summits is that they are the previous and next hosts of the Olympics. But Britain is clear that China and Brazil, as leading members of the Bric countries, are key emerging markets for Britain.

The other 17 summits will cover areas such as creative services, education, energy and infrastructure, engineering and aerospace. The final summit – the International Paralympic Committee Inclusion summit – will take place on 6 and 7 September.

The Global Investment Conference on Thursday will be attended by Christine Lagarde, the managing director of the IMF, and Mario Draghi, the president of the European Central Bank. Business leaders at the summit will include Eric Schmidt, the Google chief executive, and Sir Martin Sorrell, the WPP chief executive.

The prime minister’s spokesman said: “This is not about the Olympics. This is using the opportunity of the Olympics and the fact that there will be lots of people in town to forge links with international businesses, look for opportunities for inward investment.”

The prime minister will need all his diplomatic skills for the visit by Romney who will be in London for the opening of the Olympics as head of the Salt Lake City Winter games in 2002. The Romney camp expressed unease after the prime minister was given the full red carpet treatment at the White House by Barack Obama and a trip on Air Force One to the swing state of Ohio in March. Republicans were upset that the leader of their main sister party in Europe accepted such a high profile invitation from a Democratic president at a sensitive time in the electoral cycle.

Downing Street has struggled to explain in recent weeks why the prime minister has agreed to meet the Republican nominee in No 10 after refusing to meet François Hollande while he enjoyed the same status – a presidential candidate from a country that is a close ally. No 10 said at the time of the Hollande visit that the prime minister did not meet candidates in elections.

Asked whether No 10 had now changed its position on meeting election candidates, his spokesman said: “We have been through this so you know the position. The rules are as they were. They are the same and we are applying them.”

Downing Street declined to say whether Cameron would greet Romney with a handshake in public on the No 10 doorstep. “We will come back to you on details of that,” the spokesman said when asked whether they would meet publicly.

Cameron’s team criticised Gordon Brown in 2008 when the then prime minister declined to greet Barack Obama on the No 10 doorstep because he was the Democratic nominee and not president. In a compromise Brown agreed to be photographed talking to Obama in the No 10 garden.

Cameron tried to upstage Brown by walking with Obama from the No 10 gates to parliament. This was rejected by the Obama team out of sensitivity to Brown.

Asked whether Cameron would follow the precedent set by Brown, the No 10 spokesman said: “We will come back to you on all of these things. We have been through these 100 times in recent weeks.”

NATO will discuss downing of Turkish plane by Syria; Turkey considers retaliation – Washington Post

Category : Stocks
NATO will discuss downing of Turkish plane by Syria; Turkey considers retaliation
Washington Post
ANKARA, Turkey — NATO will hold emergency talks on Tuesday to discuss Syria's downing of a Turkish jet fighter, but the alliance is not expected to take military action, even if it confirms Turkey's claim that the unarmed plane was attacked in
Syria insists downed Turkish plane was 'not an attack'Christian Science Monitor
Clinton Says US Will Consult With NATO on Next Syria StepsBloomberg
NATO to discuss downing of Turkish plane by Syria The Associated Press
Globe and Mail

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‘No fault dismissal’ plans look buried as Nick Clegg joins critics

Category : Business

Deputy prime minister says there is no evidence that allowing staff to be fired at will would be a good way of creating jobs

Nick Clegg has made a significant intervention in the row over proposals for “no fault dismissal”, which are awaiting the results of a government consultation.

Speaking on Tuesday at a conference in London, the deputy prime minister appeared to hammer a decisive nail in the coffin of the plan, which has already been dismissed as “bonkers” by the Liberal Democrat business secretary Vince Cable.

Conservatives have also indicated that Downing Street will drop the policy, which would allow employers to fire workers at will. However, some Tories are pushing strongly for the measure, saying it will encourage employers to start hiring.

“I don’t support [the proposal] and I never have, for the simple reason I have not seen any evidence that creating industrial-level insecurity for workers is a good way of creating new jobs,” said Clegg.

The Lib Dem leader said he would take seriously any evidence that emerged from the consultation, due to end in June, but continued to sound sceptical. “So far there just is no evidence,” he added.

On Tuesday, Cable all but confirmed that the controversial proposals were to be ditched by the government. As Tory sources said that David Cameron was preparing to shelve the plans, Cable attacked the proposals from the Tory party donor Adrian Beecroft.

“British workers are very co-operative and they are very flexible,” the business secretary told the BBC. “So we don’t need to scare the wits out of workers with threats to dismiss them. It is completely the wrong approach.”

It is understood No 10 is planning to ditch the proposal when a “call for evidence” ends next month on Beecroft’s most controversial recommendation – that employers should be allowed to sack unproductive staff without explanation in a scheme known as no fault dismissal.

Under a compromise between the coalition parties, Cable agreed to a six-month “call for evidence” last year to see whether companies employing fewer than 10 people favoured the idea. One source said: “The no fault dismissal idea is unlikely to see the light. It will be rather a relief when we never have to talk about it again.”

Cable spoke out after Mark Prisk, the Conservative business minister, was forced to answer an emergency question in the Commons granted to the shadow business secretary Chuka Umunna. John Bercow, the Speaker, summoned Prisk after a copy of the report was leaked to the Daily Telegraph, and the Sunday Telegraph reported that Downing Street was preparing to endorse the Beecroft report.

Coulson tells of share ‘conflict’

Category : World News

Ex-Downing St press chief Andy Coulson says he only considered a conflict of interest in having News Corp shares after he quit No 10.

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