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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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Game wants to buy some HMV stores

Category : Business

Retailer Game reveals that it is one of the 50 separate groups or individuals who have expressed an interest in buying all, or part of HMV.

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Yen concerns spark Nikkei fall

Category : Business, World News

Japan’s stock market suffers its biggest one-day fall in eight months after government ministers expressed concerns about the weak yen.

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Huaxing Reports Consolidated Financial Results for the Six Months Ended June 30, 2012

Category : World News

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Sept. 4, 2012) - Huaxing Machinery Corp. (TSX VENTURE:HUA) (“Huaxing” or the “Company”) reports its consolidated financial results as at and for the six months ended June 30, 2012 in accordance with International Financial Reporting Standards (“IFRS”). All dollar amounts are expressed in Canadian dollars.

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Osaka trial highlights Japan’s deficient mental-illness facilities

Category : World News

On July 30, the Osaka District Court sentenced a 42-year-old man to 20 years in prison for killing his sister. That’s the maximum term for the crime, but it’s also four years more than what prosecutors demanded. The reasoning behind the decision of the court, which included lay judges, has provoked an unusually pointed editorial response from the media. The Asahi Shimbun bluntly called the ruling “wrong.”
The convicted man, Kazuhiro Ohigashi, was diagnosed with a developmental disorder after he was arrested. His family never sought any treatment for his condition, and may not have thought he had a condition. At the age of 11 he stopped going to school because he didn’t like the one he was attending. He asked his parents to move so that he could go to a different school and they refused. For some reason he blamed his younger sister for his parents’ intransigence and developed a grudge against her. For the next 30 years he kept to his room. Even after he expressed a desire to commit suicide in his twenties his family didn’t seek help.

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N I S Holdings Corp (NISC: OTC Link) | NIS Holdings Announces a Change to Board of Directors

Category : Stocks

NIS Holdings Corp. (OTC: NISC) announced today a change to the Board of Directors. Mr. Nikolaos Mangas has been appointed as the new President of the Company, succeeding Mr. Haral Tsitsivas.

Mr. Mangas has previously held the position of the Treasurer of NIS Holdings. His professional experience so far includes his participation and implementation of various strategic planning solutions and financial management for start-up companies in various sectors. Mr. Mangas holds a MSc in International Business and Finance from the London Metropolitan Business School, UK and a Bachelor’s Degree in Maritime Economics from the University of Piraeus, Greece.

The Board of Directors of NIS Holdings Corp. currently consists of the following members:


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Lord Green ‘regrets’ HSBC scandal but still refuses to answer questions

Category : Business

Trade minister breaks silence over money laundering scandal that took place while he was running the bank

The trade minister, Lord Green, has broken his silence over the HSBC money laundering scandal, saying he regretted the long-running incident that took place while he was running the bank. But he is still refusing to take questions on the controversy.

Labour has repeatedly called on Green to answer questions on what he knew about US Senate findings that HSBC laundered money for Mexican drug barons and possibly even terrorists.

On Tuesday the bank’s former chief executive and chairman conceded that he shared the “regret” expressed by the bank for the incident. The scandal is likely to result in a fine of at least $1bn (£650m).

But his refusal to turn up to the Lords – which is still sitting – did not satisfy Labour. The Opposition leader of the House of Lords, Lady Royall, called on Green to come to the house on Thursday to “dispel” the questions being posed about his ministerial role.

Green made his response in a letter to shadow Treasury minister Chris Leslie, in which he defended his track record at HSBC, where he spent 28 years, including becoming chief executive in 2003 and then chairman in 2006 before resigning to become trade minister at the end of 2010. He said HSBC had “expressed its regret that there were failures of implementation” with regards to anti-money laundering rules and those involving sanctions against countries such as Burma. “I share that regret,” Green said. He added: “As you know HSBC has also publicly committed to fixing what went wrong.

“It would not be appropriate for me to comment further on the specifics as this is a matter of continuing discussion between HSBC and the US authorities.”

He also said that the US Senate report showed that the senior management of the bank was “engaged with regulators” during the period.

In his letter to Leslie, Green said he was “proud” of his banking career. “HSBC have always sought to do the right thing, and when things go wrong worked hard to put them right. I have sought to embody these values in my own work to react appropriately to emerging issues both as CEO and chairman of HSBC,” Green said.

The level of the fine that HSBC will incur as a result of the litany of mistakes with regard to laundering money for drugs barons and breaching sanctions through its US operations between 2004 and 2010 is not yet known.

However analysts at Bank of America Merrill Lynch warn that estimates of a fine of $1bn may be too low on the basis that Dutch bank ING was fined $619m for funnelling $1.6bn of funds in breach of sanctions. The analysts point out that in the case of HSBC, some $19.4bn involved breaching sanctions just to Iran.

Green wrote to Labour ahead of what is regarded as crucial period for British business during the Olympics when the government is holding 17 summits with the aim of securing in at least £1bn of investment. The key session is on Thursday when Green is speaking at a major conference which is being sponsored by HSBC.

Lord Strathclyde, the leader of the Lords, had defended Green on Monday, saying that the trade minister did not have to be accountable to peers for his business career.

Feronia Inc. Reports First Quarter 2012 Results

Category : Stocks, World News

TORONTO, ONTARIO–(Marketwire – May 30, 2012) - Feronia Inc. (“Feronia” or the “Company“) (TSX VENTURE:FRN) today released its unaudited financial results for the three months ended March 31, 2012. All amounts in this release are expressed in US dollars unless otherwise indicated.

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LinkedIn has "zero interest" in buying Monster

Category : Business

Shares of Monster Worldwide soared almost 22% on Friday after a news report said LinkedIn has expressed interest in buying the online job-search company.

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Investors force Aviva pay review

Category : World News

Insurance giant Aviva announces it will look again at how much it pays new senior executives after concerns expressed by shareholders.

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Conservative experts slam female Imperial branches

Category : World News

Female Imperial family members should not be allowed to retain their royal status upon marriage, conservative experts told a government panel Tuesday, saying such a system could eventually break the centuries-long paternal lineage of Imperial blood.
Journalist Yoshiko Sakurai and Nihon University law professor Akira Momochi both expressed strong concern over recent discussions to allow Imperial family members to create their own family branches while retaining Imperial status.

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