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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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Bank holds fire on stimulus move

Category : World News

The Bank of England keeps its stimulus programme of quantitative easing (QE) unchanged and also holds interest rates at 0.5%.

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Creative Mother’s Day Crafts

Category : Stocks

MISSION, KS–(Marketwired – May 2, 2013) – (Family Features) For Mother’s Day, celebrate the nurturing nature of mom with a specially painted flower pot that holds her favorite herbs or flowers.

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NFL Safety Kerry Rhodes Comments on Release From the Arizona Cardinals

Category : Stocks

LOS ANGELES, CA–(Marketwire – Mar 13, 2013) – “Playing with the Cardinals has been one of the most rewarding experiences of my career. I want to thank my coaches, teammates and Arizona fans everywhere for making the last three years truly remarkable. Change is always exciting and I’m optimistic about what the future holds. Wherever I go or whatever I do, I look forward to working hard and giving 110%, as always.”

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Crest Nicholson plans return to stock exchange

Category : Business

£50m windfall for management when housebuilder rejoins the London stock exchange

The management of housebuilder Crest Nicholson is in line for a £50m windfall after one of the highest-profile victims of the financial crisis said it was preparing to return to the London Stock Exchange.

The company plans to float around 35% of its stock next month in a move that would value the group at around £500m. Management was given 10% of the equity when Crest’s lenders took over the company in 2009, after a debt-for-equity swap that wiped out the previous owners, Sir Tom Hunter, the retail entrepreneur, and HBOS.

It means that the stake held by chief executive Stephen Stone, who joined the company in 2005, is worth around £2m, while William Rucker, who was appointed chairman in September 2011, holds shares worth slightly more than £1m, according to the most recent filings at Companies House.

However, the biggest winners from the float appear to be the investment group Varde, which has built up a 60% stake, as well as Deutsche Bank, which holds around 20%. Neither shareholder would disclose how much they had paid for their holdings.

In a statement announcing the move, which should see the company return to the FTSE 250 six years after Hunter and his consortium took it private for £715m, Stone said: “We have a robust balance sheet, a valuable land bank, and a management team that has experienced the best and worst of the housebuilding cycle. The housing market is entering a period of gradual recovery and with our emphasis on the south of England, including London, and the continued support for the new homes market from government, we are well positioned to generate value for shareholders.”

The listing will raise £50m for the company, which it plans to use to pay down debt, plus a further £150m from shares sold by institutional shareholders and management, with the latter group offloading no more than 25% of their 10% stake.

Hunter, the Scottish entrepreneur, and HBOS took Crest private at close to the peak of the property market boom in May 2007. However, after house prices fell and the company increased its debts, Crest was snatched by its lenders in a £630m debt-for-equity swap.

Before Hunter’s intervention Crest, which was founded in 1963, had had 39 years of its shares trading on the London Stock Exchange between 1968 and 2007.

Germany brings gold reserves home

Category : Business, World News

Germany’s central bank will bring back some of the gold it currently holds overseas, so that half of its reserves will be in its vaults by 2020.

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ZAP Jonway Removes Chairman, Management in Board Action

Category : World News

SANTA ROSA, CA–(Marketwire – Dec 31, 2012) – On December 31, 2012, the Board of Directors of Zap (OTCBB: ZAAP), a California corporation (“Zap”), removed Priscilla M. Lu from the office of Chairman, from all positions she holds on any committees of the Board of Directors of Zap and from any offices or directorships she serves for any of Zap’s subsidiaries or joint ventures, effective immediately according to an accompanying 8-K filing.

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Bank hands QE income to Treasury

Category : Business

The Bank of England is to give the Treasury £35bn cash it has earned in interest on government debt it holds via quantitative easing.

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Eurozone interest rates on hold

Category : Business

The European Central Bank holds its main eurozone interest rate at the record low of 0.75%, as widely expected.

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If Chris Paul stays, Clippers may go far – Los Angeles Times

Category : Stocks


San Francisco Chronicle
If Chris Paul stays, Clippers may go far
Los Angeles Times
From: To: T.J. SIMERS. If Chris Paul stays, Clippers may go far. The Clippers have become exciting to watch and they're relevant. It's a strong, deep team, but Paul hasn't yet committed to staying beyond this season. print. Comments. 0. 1; 2

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In a Two-Speed Economy, Leaders Need to Think Differently About Their Role

Category : Stocks

CEOs Tell BCG How They Straddle Two Different Worlds: Starbucks Holds Annual Meetings for Parents in China, While the Board of Siemens Hits the Ground in Emerging Markets

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