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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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Lydd airport given permission to increase capacity

Category : Business

Environmentalists disappointed by decision to approve plan to extend runway at Lydd, also known as London Ashford airport

Environmental groups including the RSPB and the Campaign to Protect Rural England (CPRE) are considering legal action to challenge the government’s decision to allow the expansion of Lydd airport in Kent.

The minor airfield, wedged between Dungeness nuclear power station, Romney Marsh and a nature reserve, has been given permission to extend its runway and handle up to 500,000 passengers a year.

The plan was approved by Eric Pickles, the communities and local government secretary, and Patrick McLoughlin, the transport secretary, following a protracted dispute over an application first submitted in 2006. The growth of London Ashford airport, as it is formally known, is designed to ease air congestion in the south-east and create local jobs.

But the decision is fiercely opposed by environmental activists, who fear it will destroy the tranquillity of the Kent coast and a nearby bird sanctuary. The RSPB and the CPRE are examining the 365-page report to see whether they can seek a judicial review in the high court.

The airfield has been owned by a Saudi businessman, Sheikh Fahad al-Athel, since 2001. As a director of the Al Bilad company, Athel came to attention for his role as a fixer for Saudi Arabia’s multibillion-pound Al Yamamah arms deal.

Lydd opened in 1956 and at the height of its success Silver City airways, Dan-Air and other firms were carrying 250,000 people a year. Business collapsed in the 1970s.

Shepway district council voted in favour of the expansion plan in 2010 but the scheme was called in by central government for assessment because of its national importance. Its approval allows the construction of a runway extension that can take Boeing 737 charter flights, and a new terminal building.

Opponents, who fear passenger numbers will eventually increase to two million a year, have six weeks to appeal against the decision.

The RSPB’s conservation director, Martin Harper, said: “This is the wrong decision as it opens the door to real damage to Dungeness, to its wildlife and the quality of life for many of its residents and risks destroying a unique asset that is enjoyed by hundreds of thousands of people.

“Dungeness is a special place for nature, which is recognised globally for the importance of its wildlife. This decision means nowhere is safe and signals that nature is in trouble in the face of unfettered growth – these are worrying times for all who care for Britain’s wildlife. We will be taking time to review the detail of the decision – and to plan our next steps.”

Neil Sinden, policy and campaigns director at the CPRE, said: “This is a terrible decision which threatens one of the few remaining areas of rural tranquillity in heavily pressured south-east, and in a county once proudly described as the Garden of England. And it will not just alarm environmentalists.

“There were many in the aviation sector who considered this scheme to be nonsensical and a non-starter. If there are any economic benefits, which is unlikely, they will be heavily outweighed by the environmental damage that it will cause on so many levels. Campaigners are bound to consider all legal options to have this disturbing decision overturned.”

Keith Taylor, the Green party MEP for the south-east, said: “The expansion also brings with it a serious nuclear safety issue that the government seems to have ignored. This government decision is bad for wildlife, potentially dangerous for local people and a step in the wrong direction in fighting climate change.”

Hani Mutlaq, Lydd airport’s executive manager, said he was delighted with the go-ahead. “I’m very pleased,” he told the Guardian. “I hope construction will start this year. At the moment we only have scheduled flights to Le Touquet in France but with a longer runway we will have the capacity for 737s that can reach destinations across Europe.”

Richard Griffiths, the planning lawyer who led the team advising the airport’s owner, said: “This is a significant decision from the government given the crossroads which aviation policy currently faces. [It] is perhaps an indication of the government’s support for aviation expansion where the environmental impacts are demonstrated to be acceptable.

“Clearly the government has accepted that there is a need to grow capacity in the country’s airports. However, whilst this is an important decision for both the aviation industry and also for infrastructure investment in Kent, questions should be asked why it has taken over six years to make a decision on these proposals.”

The decision states: “After careful consideration, [the secretaries of state] are satisfied that there would be no likely significant effects on any designated conversation sites and also that the proposals would not have a significant effect on nuclear safety, landscape or tranquillity.”

Environmental activists claimed the proximity of Dungeness nuclear power station posed a severe risk if there was an air accident. In a local referendum, residents rejected the expansion scheme by a ratio of two to one.

Inuvik to Tuktoyaktuk Highway Project to Proceed

Category : Stocks, World News

OTTAWA, ONTARIO–(Marketwired – April 5, 2013) - The Government of Canada today released its response to the report of the Substituted Review Panel for the Inuvik to Tuktoyaktuk Highway. The project is not likely to cause significant adverse environmental effects subject to the implementation of the measures laid out in the response and can now proceed.

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Obama pitches clean-fuel car plan in Chicago but signals retreat on Keystone

Category : Business

President unveils $200m-a-year plan to fund research into clean fuels but advisers suggest Keystone pipeline will be approved

Barack Obama’s grand vision of action on climate change shrank to $200m a year to fund research into clean fuel cars, with signs of retreat on the big environmental issues of the day.

Friday’s initiative – hyped in advance by the White House – marked the first move by Obama to make good on the stirring promises of climate action offered in his inaugural speech and state of the union address.

But on the most immediate environmental decision in his in-tray — the future of the controversial Keystone XL pipeline project – White House officials indicated on Friday that Obama’s green and liberal supporters would be in for a disappointment. Officials signalled that the president was inclined to approve the project.

Meanwhile, there were signs that the Environmental Protection Agency was retreating on a move to curb carbon emissions from new coal-fired power plants.

Like other climate actions now in the works, Friday’s announcement of a $2bn research fund was small-bore, or intended to fly beneath the radar of a Congress still dominated by Republicans hostile to environmental protections.

Earlier on Friday, the president’s economic council, in a report to Congress, called for a switch to cleaner fuels to prevent the worst effects of climate change. Meanwhile, the president’s team of scientific advisers are expected to release a finding on the urgency of acting on climate change.

In a visit to Argonne research labs, outside Chicago, the president called on Congress to support his plan to use revenues from offshore oil and gas drilling to fund research into advanced vehicle technologies.

Obama, in describing the Energy Security Trust, put it squarely in the context of his “all-of-the-above” energy strategy, noting that oil and natural gas drilling had risen during his presidency. He said the development of alternative fuels would help America’s energy security and would protect consumers from gas price spikes.

“Let’s take some of our oil and gas revenues from public lands and put it towards research that will benefit the public so we can support American ingenuity without adding a dime to our deficit,” Obama said. “Let’s set up an Energy Security Trust that helps us free our families and our businesses from painful spikes in gas once and for all.”

The Energy Security Trust, as envisaged by the White House, would raise $2bn over the next decade, or $200m a year, for cutting edge research, which Obama said was under-funded by the private sector.

The White House said the money would help fund research into “breakthrough” technologies, such as advanced batteries for electric cars, or biofuels made from switch grass rather than corn ethanol.

Officials chose Argonne Labs because the facility led research into electric car batteries.

As Obama noted, the fund was first proposed by a non-partisan group of former generals and military executives, called Securing America’s Future Energy. However, the original proposal called for a much larger fund, with some $500m in annual investment.

Obama incorporated the idea into his state of the union address, pitching the trust as part of his plan for job creation, arguing that America needed to retain its technological edge to remain competitive in the global economy. White House officials said the fund would free research labs from Congress, and the uncertainties of appropriation cycles.

Even so, the initiative is on a much more modest scale than campaigners had hoped for during Obama’s second term. The White House has all but conceded that there is no chance of moving a climate law through Congress. Officials have also ruled out the idea of a carbon tax, leaving Obama to focus on relatively small-scale projects like the Energy Security Trust.

Obama’s proposal to use oil and gas revenues to fund research that would get cars off gas was also problematic for environmental groups.

The White House said Obama’s proposal would not open up areas where drilling is currently banned. But they are counting on increased production to spin off additional revenues that could be used to fund research. The government currently collects more than $6bn in oil and gas royalties.

There was virtually no reaction from environmental groups to Obama’s announcement.

Meanwhile, White House officials briefing reporters on the plane gave strong indications that the president is inclined to approve the Keystone XL pipeline – which activists have cast as a test of Obama’s commitment to the environment.

A few dozen protesters from the group, which has led opposition to the Keystone XL pipeline, held a demonstration outside Argonne labs on Friday afternoon.

The official dismissed environmental groups’ contention that building the pipeline would open up vast deposits of the Alberta tar sands, and so increase the emissions that cause climate change. “There have been thousands of miles of pipelines that have been built while President Obama has been in office, and I think the point is, is that it hasn’t necessarily had a significant impact one way or the other on addressing climate change,” the official said.

He added that Obama’s environmental policies would more than make up for any negative impacts from the Keystone XL project. “There’s no question of that.”

Environmental groups were also dismayed by a report in the Washington Post on Friday suggesting that the administration may be backing off from its move to curb emissions from new coal plants.

“We’re now in the fifth year of the Obama administration and industrial carbon pollution remains unregulated,” said Larry Schweiger, president of the National Wildlife Federation.

American Cumo Mining Corp. (MLYCF: OTC Link) | Home Country News Release

Category : World News

Sun, Feb 10, 2013 09:02 – American Cumo Mining Corp. (MLYCF: OTC Link) released their Home Country News Release concerning CuMo Exploration Program to Be Improved by Supplemental Environmental Assessment. To read the complete report, please visit:

Go here to see the original: American Cumo Mining Corp. (MLYCF: OTC Link) | Home Country News Release

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UK urged to ban lead fuel exports

Category : World News

Environmental groups are urging the UK government to ban a chemicals company from exporting a lead fuel additive that is responsible for long-term damage to human health.

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Teck Announces Decision in Phase 1 of Upper Columbia River Litigation

Category : Stocks, World News

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Dec. 14, 2012) - Teck Resources Limited (TSX: TCK.A and TCK.B, NYSE: TCK) (“Teck”) announced today that the Federal District Court for Eastern Washington has ruled in favor of the plaintiffs in Phase 1 of the Pakootas case. The court has issued a declaratory judgment that Teck Metals Ltd. (“TML”) is liable under CERCLA for response costs, the amount of which will be determined in the subsequent phase of the case. The subsequent hearing, with respect to claims for natural resource damages and costs, has not yet been scheduled and is expected to be deferred until the remedial investigation and feasibility study with respect to environmental conditions in the Upper Columbia River is substantially complete. That study, being undertaken by Teck American Incorporated (“TAI”) pursuant to a 2006 agreement with the United States Environmental Protection Agency, is currently expected to be completed in 2015.

The rest is here: Teck Announces Decision in Phase 1 of Upper Columbia River Litigation

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Seventh Generation Announces Canadian Winners of $50,000 Charitable Donation

Category : Stocks

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Dec. 10, 2012) - Following an exciting month of online voting, Seventh Generation proudly announces the winners of the Show You Care Today Canada campaign. Throughout the month of November Canadians were encouraged to vote via Facebook to help direct a $50,000 cash donation to three of the country’s leading social and environmental foundations.

Excerpt from: Seventh Generation Announces Canadian Winners of $50,000 Charitable Donation

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Category : Stocks, World News


November 28, 2012

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Keystone XL activists to press Obama again to block oil pipeline

Category : Business

Environmental groups to hold rally at White House on Sunday after president promised to make climate change a priority

Environmental groups will step up the pressure on Barack Obama to act on climate change in his second term, with a rally Sunday at the White House against the Keystone XL tar sands pipeline.

Activists are pressing Obama to deliver early on his promise – renewed at his first White House press conference – to make climate change a personal priority of his second term, by blocking the Keystone XL.

“We wanted to make a first statement right out of the gate after the election that the environmental community isn’t going away, and that we want to hold the president accountable,” said Daniel Kessler, a spokesman for “It’s important for Obama to know that denial of a permit for the Keystone XL pipeline is priority number one.”

But supporters of the pipeline are matching their efforts, and have renewed their call for Obama to approve the scheme. “As the president looks for opportunities to provide a quick boost to the economy and strengthen our energy security, we urged him to approve the full Keystone pipelines as soon as possible,” the American Petroleum Institute told a reporters’ conference call on Thursday.

Opponents of the Keystone XL pipeline say it will vastly expand production from the Alberta tar sands – locking the US and Canada into a high-carbon future and swamping efforts to reduce the emissions that cause climate change.

Protesters, including author Bill McKibben, plan to encircle the White House with a giant inflatable pipeline.

The climate champion, Al Gore, also spoke out against the pipeline this week. “The tar sands are just the dirtiest source of liquid fuel you can imagine,” he told the Guardian. “At a time when we are desperately trying to bend the emissions curve downwards it is quite literally insane to open up a whole new source that is much more carbon intensive and that makes the problem worse.”

Environmental groups are hoping to capitalise on renewed concern about climate change after superstorm Sandy, and Obama’s promise to make the issue a personal mission in his second term. Obama told a White House press conference he wanted to re-educate the American public about climate change although he backed away from endorsing any specific measures.

But with climate change once again a hot topic – and various think tanks hosting seminars on a carbon tax – environmental groups are thinking this could be an opportune time.

“I think the national dialogue has changed,” said Jane Kleeb, the founder of Bold Nebraska, which led protests against the proposed pipeline route across that state.

“Sandy was a big shift, and I think the president truly does believe that this is one big issue his Administration has to tackle. They shied away from it, unfortunately, before the election but now they are tuned in.”

The Keystone XL emerged as an issue during the election campaign, with Mitt Romney promising to approve the pipeline on his first day in the White House, if he won election. The Republican contender argued it would create jobs.

However, the pipeline company said it still expects the project to go ahead, with Obama rendering his final approval by March next year.

“We continue to believe that the Keystone XL pipeline will be approved,” Shawn Howard, a spokesman for the TransCanada Corporation, said in an email.

“The facts that support the approval of Keystone XL remain the same – and the need for this pipeline grows even stronger the longer its approval is delayed.”

Obama is due to render a final decision on the project in the first half of next year.

But there are a number of key moments ahead including additional environmental reviews by the State Department, and a research study by the National Academy of Science on the potential dangers of pumping tar sands bitumen across the American heartland.

The pipeline company also needs to win additional approvals for its route, which was adjusted to avoid crossing over the ecologically sensitive Ogallala Aquifer in Nebraska.

Chevron appeals against freeze

Category : Business

Two Chevron subsidiaries in Argentina appeal against an asset freeze ordered by a judge as part of an environmental damages claim in Ecuador.

Read the rest here: Chevron appeals against freeze

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