PennyStockPayCheck.com Rss

Featured Posts

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...

Read more

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...

Read more

Cambodia: aftermath of fatal shoe factory collapse... Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

Read more

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...

Read more

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...

Read more

Tesla stock up 40% this week

Category : Business

In the wake of first profit and a glowing review for the Model S, Tesla shares continued to shoot higher Friday.

Read the original post: Tesla stock up 40% this week

Post to Twitter

Nikkei at 5-year high after best week since 2009

Category : Business, Stocks

A 3% stock rally Friday has pushed Japan’s Nikkei to its highest close in five years and the best week since the end of 2009.

See the rest here: Nikkei at 5-year high after best week since 2009

Post to Twitter

Stocks end week up more than 1%

Category : Business, Stocks

U.S. stocks closed in mixed territory Friday following a weaker than expected reading on the economy. Yet all three indexes gained between 1% and 2.3% for the week.

Read more: Stocks end week up more than 1%

Post to Twitter

Turn out the lights: GE down 4%

Category : Business

General Electric used to be a market bellwether. But even though GE was hit hard Friday, most stocks held up well. Is that a mistake?

See the rest here: Turn out the lights: GE down 4%

Post to Twitter

Stocks gain more than 2% for week

Category : Business, Stocks

Despite ending in the red on Friday, the three major indexes gained more than 2% for the week.

Read more: Stocks gain more than 2% for week

Post to Twitter

VIDEO: Merger of book giants gets green light

Category : Business, World News

The book industry’s biggest ever merger cleared its final hurdle on Friday when EU competition authorities approved a deal to bring together Penguin and Random House.

See the rest here: VIDEO: Merger of book giants gets green light

Post to Twitter

Grupo Financiero Banorte, S.A.B. De C.V. (GBOOY: OTCQX International Premier) | PROXY FORMAT – GFNorte´s EGM – AGM Shareholder´s Meeting – April 26th, 2013

Category : World News

We are sending the Proxy Format

Post to Twitter

Grupo Financiero Banorte, S.A.B. De C.V. (GBOOY: OTCQX International Premier) | PROXY FORMAT – GFNorte´s EGM – AGM Shareholder´s Meeting – April 26th, 2013

Category : Stocks, World News

We are sending the Proxy Format

Post to Twitter

Nikkei mounts another rally after BoJ decision

Category : Business, Stocks

Japan’s Nikkei reached its highest level in almost five years Friday, adding momentum in the wake of aggressive actions by the Bank of Japan to counter persistent deflation by pumping more money into the economy.

Originally posted here: Nikkei mounts another rally after BoJ decision

Post to Twitter

Cyprus has a future in the euro, insists president

Category : Business

Nicos Anastasiades says crisis has been averted but blasts eurozone members for turning island into an ‘experiment’

Cyprus’s president on Friday insisted his country has a future in the euro in a speech that also criticised his eurozone partners for forcing the Mediterranean island to be an “experiment”.

“We have no intention of leaving the euro. In no way will we experiment with the future of our country,” Nicos Anastasiades said.

Speaking the day after Cypriot banks reopened after a two-week closure to stave off financial collapse, the Conservative head of state said the threat of bankruptcy had been averted.

He also promised that restrictions on banking transactions – the first ever to be imposed on a eurozone member state – would be gradually lifted, but did not specify when.

Cash withdrawals from banks have been limited to €300 (£253) a day, while only €1,000 in cash can be taken out of the country, and there are restrictions on the use of credit cards abroad. Cypriot authorities loosened some restrictions on using cheques on Friday – but only to allow payments to government agencies of up to €5,000.

In another turnaround of capital controls placed on a euro member state, the finance ministry announced that debit and credit card transactions with the borders of the country could also be unlimited.

Cyprus’s Central Bank has also imposed limits on the money that can be taken “beyond the control of the Cypriot authorities” – a reference to the northern part of the island under Turkish control.

After an initial estimate that the capital controls would be in place for a matter of days, the government then warned later in the week they could last for “about a month”.

Anastasiades, who was elected in a landslide victory on a pro-bailout platform last month, has faced a backlash over the terms of the rescue. On Friday he accused eurozone leaders of making “unprecedented demands that forced Cyprus to become an experiment”. He also criticised European banking authorities for allowing money to flood into Laiki, the island’s second biggest bank, which had racked up billions of debt in bad loans and is now being wound up as part of the rescue deal.

“How serious were those authorities that permitted the financing of a bankrupt bank to the highest possible amount?” Anastasiades said.

Barely a month in power, the government has appointed an investigating committee of former supreme and international criminal court judges to probe possible criminal misconduct in the collapse of the Cypriot economy. With shocked Greek Cypriots now facing years of economic pain, there are mounting calls for punishment to be meted out to the politicians and bankers found to be responsible for the dire straits in which the island now finds itself.

The Swedish foreign minister, Carl Bildt, who flew into Cyprus to hold talks with Anastasiades, said Cyprus was heading for years of economic recession. “It is going to go into recession, a big slump,” he told the Guardian. “A lot could have been done to stop it reaching this point. I cannot say I am optimistic, but I am also not alarmed.”

Cyprus secured a €10bn (£8.4bn) bailout from the “troika” of lenders – the European Union, the European Central Bank and the International Monetary Fund – to avert financial collapse. As well as the winding up of Laiki, the island had to agree to an unprecedented levy on bank savings of more than $100,000 to fund the bailout. Earlier plans to raid the accounts of small depositors were abandoned amid fury from ordinary savers.

Cypriot banks were calm on Friday, with no big queues reported. “The situation, despite all its tragedy, has been contained,” said Anastasiades.

The Cypriot president’s attempt to draw a line under the crisis that has gripped the eurozone came as Slovenia, another minnow of the currency union, insisted it did not need the eurozone to rescue its troubled banks.

“We will need no bailout this year,” said the Slovenian finance minister, Uros Cufer. “I am calm.” Borrowing costs for the former Yugoslav republic, which has a population of two million, have jumped as investors look for the next weak link in the single currency.

The Cypriot crisis has sent shudders throughout the eurozone, where the outlook remains gloomy and unemployment rises to record levels.

Figures released on Friday showed that France failed to meet its budget deficit target in 2012 and will miss it again this year. The country’s public debt has also risen to a record level.

The latest bad news came only hours after French president François Hollande had gone on live television to reassure the nation of his ability to lead it out of the economic mire.

INSEE, France’s national statistics agency reported that public debt rose to €1.8 trillion, a record 90.2 per cent of GDP, in 2012, up from 85.8 per cent in 2011. France’s Socialist government has already admitted it will not be able to keep a pledge to bring the deficit down to 3 per cent by the end of 2013 as agreed with the European Commission. The figure is now expected to be around 3.7 per cent, and France has asked for an extension to the deadline for reaching the target. France has not balanced its books since 1974 under successive governments of different political hue.