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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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Nissan profit up but China sales dip

Category : World News

Japanese carmaker Nissan reports a small rise in full-year profits, but sales in its key market of China fell following a territorial row between Japan and China.

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China’s manufacturing sector unexpectedly slows

Category : Business

Dip in April PMI shows ‘foundation for China’s economic recovery is still not solid’, says economist

Growth in China’s manufacturing sector unexpectedly slowed in April, with the official purchasing managers’ index (PMI) falling to 50.6 from March’s 11-month high of 50.9 as new export orders and input prices contracted, data showed on Wednesday.

The outcome was lower than market expectations in a Reuters poll of 51.0, but figure from the National Bureau of Statistics showed the PMI has stayed above the watershed mark of 50, which separates expansion from contraction compared with a month earlier, for seven straight months.

A subindex measuring new orders fell to 51.7 in April from 52.3 in March, while new export orders swung into contraction, falling to 48.6 from 50.9 in March.

“The dip in April PMI shows that the foundation for China’s economic recovery is still not solid,” said Zhang Liqun, an economist at the Development Research Centre, a government thinktank in Beijing. “The fall in new orders shows a change to destocking from restocking. And the plunge in input price index reflects negative expectations from companies.

“All these show the possibility for China’s growth to slow slightly in the future. We must work to stabilise domestic demand and make our economic recovery more sustainable.”

Another PMI survey, which is sponsored by HSBC and takes into account more small- and medium-sized firms in the private sector than the official one, is scheduled to be published on Thursday.

Its preliminary April reading, published last week, fell to 50.5 from 51.6 in March as new export orders shrank.

The fall in the official China PMI is the latest in a gloomy string of global data, including from the United States and Europe, which has dented optimism at the start of the year that the global economy was picking up.

China’s financial markets are closed for a holiday and will open on Thursday.

House prices ‘alter little in March’

Category : Business

UK house prices fell by 0.1% in April compared with the previous month, according to a survey by the Nationwide.

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Barclays first quarter profits fall 25%

Category : Business

Barclays adjusted first quarter profits fell 25% to £1.8bn, largely due to the bank’s restructuring programme.

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Eurozone crisis live: Markets rally after Italian president re-elected

Category : Business

Italian borrowing costs fell to record lows this morning after presidential deadlock broken, with Giorgio Napolitano agreeing to serve a second term

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Lending to business falls by £4.8bn

Category : Business, World News

Lending to UK businesses fell by £4.8bn in the three months to February, the Bank of England says, but the mortgage market is more stable.

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PPI complaints start to decline

Category : Business, World News

The Financial Conduct Authority says the number of complaints about the mis-selling of PPI fell in the second half of last year.

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World markets slump after terror attack

Category : Stocks

World markets fell Tuesday as investors considered weaker than expected economic growth in China and the implications of a terrorist attack in Boston.

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US retail sales shrink in March

Category : Business

US retail sales fell in March across all sectors, official figures show, suggesting that recent tax rises are starting to affect consumers.

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Home lending slows at Wells Fargo

Category : Business

Mortgage loans and profits fell at the nation’s largest home lender, which reported better-than-expected earnings.

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