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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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Fiscal Cliff and Greece Dominate-Mario Sant Singh

Category : Stocks, World News

FXPRIMUS Director of Education & Training Cites Fiscal Cliff and Greek concern as main headwinds for upside

See more here: Fiscal Cliff and Greece Dominate-Mario Sant Singh

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The days of economic prosperity may well be behind us, warns Northwestern University’s Robert Gordon. The robust economic growth over the past 250 years may be a unique success tale for the history books, but it’s not sustainable for the future….

Category : Stocks, World News

The days of economic prosperity may well be behind us, warns Northwestern University’s Robert Gordon. The robust economic growth over the past 250 years may be a unique success tale for the history books, but it’s not sustainable for the future. Productivity and innovation, Gordon says will eventually succumb to the headwinds of declining demographic trends, gaps in the education system, rising income inequality, globalization, declining energy/environment resources, and of course, debt. 82 comments!

See the rest here: The days of economic prosperity may well be behind us, warns Northwestern University’s Robert Gordon. The robust economic growth over the past 250 years may be a unique success tale for the history books, but it’s not sustainable for the future….

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Automotive group GKN lifted by continued demand for luxury cars

Category : Business

Company says premium vehicle sales remain strong but smaller car sales weaker in Europe

Global economic downturn there may be, but luxury car sales are still booming, much to the delight of engineering group GKN.

It saw strong year on year growth for its automotive driveshafts and axles, with increased demand from North America, China and Japan (recovering from last year’s tsunami) but a slowdown in Europe and Brazil:

Demand for European larger (premium) vehicles remains strong outside the region while demand for smaller vehicles, particularly in Europe, was lower.

In all, GKN’s half year profit rose 19% to £266m, with all four divisions performing strongly, helped by contributions from recent acquisitions Stromay and Getrag Driveline Products. The interim dividend has been lifted by 20%, helping GKN’s shares climb 1.4p to 212.4p.

Chief executive Nigel Stein said:

The macroeconomic environment continues to be uncertain, with increasing headwinds in European auto markets. However, with the benefit of a good first half and the group’s broad exposure to global markets, our expectations for 2012 remain unchanged.

We expect 2012 to be another good year of progress for GKN and, in addition, we look forward to welcoming our new acquisition, Volvo Aero, into GKN when the transaction completes in the next few months.

In a buy note Investec analyst Andrew Gollan said:

Our full-year forecasts look comfortably achievable despite increasing headwinds (particularly European auto).

Sandy Morris at Jefferies also issued a positive note:

We believe GKN is currently valued as if we are close to a peak in demand, which looks pessimistic. Aerospace can now act as a counterweight to changes in automotive demand, in our view.

We believe the increase in net debt of £500m stemming from the acquisition of Volvo Aero will not materially weaken GKN’s financial position unless vehicle production falls sharply, perhaps by 10% or more and we deem that very unlikely. We sense the recent equity placing (70m new shares at 200p per share) may have sated short-term demand for the shares, but if the market’s focus shifts during the next six to 12 months from concern about the downside risks to a more measured assessment of the potential upside then we will need to look again at our price target of 220p.

The State of Global Headwinds and Risks

Category : Stocks

NEW YORK (Real Money) — In a recent column, I discussed a baseline case for economic growth of around 2% to 2.5%, but I emphasized that headwinds and risks could derail the economy from that course. I discussed headwinds — those we already know to be true — in another recent column, and I discussed risks, things whose outcome is uncertain.

Two risks relate to governments that are trying to balance their budgets, both here and in Europe.

One of the risks the U.S. economy faces is the “fiscal cliff” at the end of this year, when taxes are scheduled to increase and spending cuts take their place. The Congressional Budget Office noted in a report recently that if lawmakers fail to remedy the situation, growth in GDP in calendar year 2013 will be just 0.5%, and the economy will contract at a -1.3% rate in the first half of the year (in other words, a recession), and then expand at an annual rate of 2.3% in the second half. …

Follow this link: The State of Global Headwinds and Risks

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Stupid stock move of the day! eBay down?

Category : Business

Yes, a slowdown in Europe won’t be great news for eBay. But don’t we already know that eBay, like nearly every consumer-centric company, will face economic headwinds?

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Aegean Marine Story Misunderstood, Says President

Category : Stocks

Nikolas Tavlarios, President of Aegean Marine, says the company’s shares are being unfairly punished by the Greek crisis and headwinds in the maritime space.

Continue reading here: Aegean Marine Story Misunderstood, Says President

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