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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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Publicis Groupe S.A. (PUBGY: OTC Link) | Home Country News Release

Category : Stocks, World News

Fri, May 03, 2013 03:01 – Publicis Groupe S.A. (PUBGY: OTC Link) released their Home Country News Release concerning 190 Publicis key Executives invest €44.7million in the “GROUPE”. To read the complete report, please visit: https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=103661.

Go here to see the original: Publicis Groupe S.A. (PUBGY: OTC Link) | Home Country News Release

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Hamleys sold to French toy company

Category : Business

Groupe Ludendo buy Britain’s most famous toy brand, including flagship Regent Street store, for sum in region of £60m

Hamley’s, Britain’s most famous toy shop, has been sold to a French company for an estimated £60m.

The 250-year old store, which has mesmerised generations of children with its seven storeys of toys and games on Regent Street in London, was taken over by Groupe Ludendo, which operates 300 toy shops across France, Belgium, Switzerland and Spain.

The sale is the latest episode in the store’s turbulent recent ownership history after attempts to modernise and reinvent itself. The brand began life in 1760 when William Hamley founded a toy shop called Noah’s Ark at 231 High Holborn, London.

David Rowland, one of Britain’s richest men and until recently Conservative party treasurer, owned a minority stake in the company through Bracken, a private equity group. The majority was owned by nationalised Icelandic bank Landsbanki, which took on the business following the collapse of its previous owner, Baugur, the Icelandic investment group that bought Hamleys in 2003.

The store has become part of the London tourist trail and is seen as quintessentially British, despite its foreign ownership – a trait it shares with Harrods, one of the capital’s other big historic retail brands, now owned by Qatar.

Gudjon Reynisson, chief executive of Hamleys, said the focus would now be on “taking the fun, entertainment and theatre of Hamleys to new levels”.

Jean-Michel Grunberg, chairman of Ludendo, said he would seek further international expansion. “We have the utmost respect for the Hamleys brand and heritage, as well as the unique interactive retail environment of fun, entertainment and theatre that it has created,” he said. “We have every intention of maintaining this unique brand and what it stands for, and building on its successful international development.”

Hamleys is most famous for its Regent Street shop where, controversially for equality campaigners, there are separate floors for girls’ and boys’ toys. Only last year did it stop labelling floors in blue and pink. Visitors are greeted by entertainers on the ground floor demonstrating the latest toys, from model planes to colourful juggling equipment to bubble-blowing mixture.

In recent years Hamleys’ expansion has included eight outlets in the UK and Ireland and branches in Mumbai, Dubai and most recently Riyadh in Saudi Arabia. Among its 22 stores are outlets in Denmark, Jordan, Cyprus and Russia.

The company had sales of £43m in the year to March 2011. The parties declined to reveal the exact sale price.

After the collapse of Landsbanki, Hamleys was among several British retailers under committee supervision pending a sale. The bank owned the businesses as a result of the financial crisis that left Iceland in turmoil in 2008 and the years that followed.

Ludendo’s started as a single toy store, founded by Maurice Grunberg in a northern Parisian suburb in 1977. Its brands include La Grande Récré and Starjouet.

Publicis Groupe S.A. (PUBGY: OTC Link) | Home Country News Release – Share buy back description program

Category : Stocks

Publicis Groupe S.A. has filed a Home Country News Release – Share buy back description program To view the full release click here (link to PDF).

Here is the original post: Publicis Groupe S.A. (PUBGY: OTC Link) | Home Country News Release – Share buy back description program

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Publicis Groupe S.A. (PUBGY: OTC Link) | Home Country News Release – Saatchi&Saatchi and Duke

Category : Stocks, World News

Publicis Groupe S.A. has filed a Home Country News Release – Saatchi&Saatchi and Duke To view the full release click here (link to PDF).

Read more: Publicis Groupe S.A. (PUBGY: OTC Link) | Home Country News Release – Saatchi&Saatchi and Duke

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Mining giant Glencore accused in child labour and acid dumping row

Category : Business

London-listed company denies polluting river in Congo and profiting from children working underground

Glencore, the commodity and mining firm worth £27bn, stands accused in the Democratic Republic of Congo of dumping raw acid and profiting from children working 150ft underground.

The revelations come as the notoriously secretive Swiss-based company, which floated on the London Stock Exchange last year, seeks to merge with mining firm Xstrata in a £50bn-plus deal. When Glencore floated in London, five of its partners became billionaires, but the biggest winner was Glencore’s chief executive, Ivan Glasenberg, whose stake is worth £4bn. The company was founded in 1974 by Marc Rich, once one of the FBI’s 10 most wanted fugitives, but now pardoned and outside Glencore.

In his first television interview, Glasenberg said that Glencore took corporate responsibility seriously, saying: “We care about the environment. We care about the local communities.”

But an investigation by the BBC’s Panorama has found Glencore dumping acid into a river and it discovered children as young as 10 working in the Tilwezembe mine, which was officially closed by Glencore in 2008. International law prohibits anyone under 18 working in a mine. Undercover researchers at Tilwezembe found under-18s who climbed down hand-dug mineshafts 150ft deep without safety or breathing equipment to dig copper and cobalt.

Glencore’s flotation prospectus says it stopped operating at the mine in 2008 because of a fall in the price of copper. The metal has since bounced back to record highs. In the meantime, the mine has been taken over by a local firm that pays artisanal or freelance miners, including under-18s, fixed prices for copper-ore nuggets. Glencore still owns the concession and plans to restart mining.

The number of accidents at Tilwezembe is extraordinarily high: Panorama was told that 60 miners died there last year, making the mine one of the most dangerous in the world.

Glasenberg said: “We definitely do not profit from child labour in any part of the world. This is adhered to strictly.” The child miners were part of a group of artisanal miners whom Glasenberg said “raided our land in 2010 against all of our authorisation. We are pleading with the government to remove the artisanal miners from our concession”.

But there is strong evidence that Glencore receives copper indirectly from the child labour mine. Panorama tracked a lorry laden with copper from Tilwezembe for 27 hours to a plant run by a major Glencore partner in Congo, Groupe Bazano. Copper from the Bazano plant has then been sent to Glencore’s smelter in Zambia, according to documents obtained by the programme.

Glencore denies buying the metal from Bazano. On the issue of whether copper from Tilwezembe goes to the Bazano plant, Glasenberg said: “I don’t know what the Bazano plant does. We don’t buy copper from Groupe Bazano.”

Asked if Glencore had taken copper in the past from Groupe Bazano, Glasenberg replied: “No, we don’t buy copper from Groupe Bazano.” Told by Panorama there was documentary evidence to the contrary, he said: “It cannot be.” Glasenberg said the company operated a strict policy whereby all copper was mined correctly, placed in bags with numbered seals and then sent to the smelter.

For its part, Groupe Bazano said it did not profit from child labour and had not taken copper ore from Tilwezembe since the mine was closed by Glencore.

Glencore is also facing criticism for damaging the environment in Congo. For three years it has run a large copper refinery at Luilu in Katanga province. Ore containing minerals is burnt with acid to free up the copper but the heavily polluted waste has been pumped straight into the Luilu river.

Glencore’s acid waterfall stank of toxic fumes when I visited it a few weeks ago. Upstream, the river used by local people to wash and fish was clear; downstream of the Glencore pipe, there was brown sludge. One local complained: “Fish can’t survive the acid. Glencore lacks any respect for people. No one would do that to another human being. It’s shocking.”

A Swiss NGO tested the acidity of the wastewater and found a pH value of 1.9, where 1 is pure acid and 7 neutral.

When I met Glasenberg, I presented him with a bottle of Glencore water from the Luilu river and invited him to wash his hands in it. Expressing no enthusiasm to do so, he said: “Not really. I can see what it is. I have been to that river. That is what people have dumped into the river for 50 years. Not correct. Terrible. That’s why Glencore has spent vast amounts of money to get rid of this problem, to ensure clean water

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Vandana Anurag Named a VIP Member of Worldwide Who’s Who for Excellence in Project Management

Category : World News

Vandana Anurag creates effective brands for Groupe Beaumanoir and its products

See the article here: Vandana Anurag Named a VIP Member of Worldwide Who’s Who for Excellence in Project Management

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