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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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IMF team needs to see UK economy’s clouds, not the sunbeam

Category : Business

Christine Lagarde’s inspectors should see that Britain is crying out for investment, not more austerity

Dear IMF officials,

Don’t be blinded by a single ray of sunshine. Britain may have avoided a triple-dip recession, but all the other economic news is weak at best.

At the heart of the problem are the country’s ultra-conservative banks and building societies. Either they are short of funds or reluctant to lend to all but the most financially secure borrower. As Vince Cable put it yesterday, they are working on a “pawnbroker business model” demanding “heaps of collateral” that he likened to a gold watch.

The result is that few small and medium-sized businesses can access the cheap credit on offer from the Bank of England.

Homebuyers are in a similar fix. Some estate agents report that cash buyers make up almost 50% of the house purchases in recent months. Housebuilding remains at levels not seen since the 1920s.

As you pointed out on your visit last year, the Treasury has room for manoeuvre should it want to promote growth. The trouble is that all the fiscal loosening this year will just go to overstressed hospitals, a bigger pension bill and a school system coping with a baby boom. There was little extra in the last budget for investment.

Among the voices over here calling for a more cautious approach to austerity are the former City regulator Lord Turner, who warned yesterday that the slowdown caused by aggressive cuts could trigger a cycle of debt.

“I think the difficulty is that when the public debt levels go up in the crisis you feel you’ve got to get that under control

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UK house prices ‘rise by 1.1%’

Category : Business

House prices rise by 1.1% in April compared with the previous month but activity in the market remains subdued, according to the Halifax.

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Senate backs online sales tax plan

Category : Business

An online sales tax bill heads to the US House of Representatives after Senate passage, as brick-and-mortar shops call for a “level playing field”.

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Alexander & James Helps Spirit Enthusiasts Bring the Luxury Bar Experience to Their Home

Category : Stocks

LONDON, UNITED KINGDOM–(Marketwired – May 7, 2013) - Premium spirit expert Alexander & James is giving its customers the opportunity to recreate their own luxury bar without leaving the house.

Read the original here: Alexander & James Helps Spirit Enthusiasts Bring the Luxury Bar Experience to Their Home

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Jump in new home registrations

Category : Business

The house-building industry has reported a significant jump in the number of new homes being registered.

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House prices fall for first time in seven months

Category : Business

Nationwide figures reveal 0.1% drop in house prices in April but figures still higher than 12 months before

House prices fell by 0.1% in April, the first fall in seven months, but they remained higher than they were 12 months previously, according to the UK’s biggest building society.

The figures from the Nationwide put the annual price of a UK home at £165,586. This is higher than the £164,630 recorded in March, but the seasonally adjusted figures, designed to smooth out changes driven by seasonal differences in activity in the market, showed a 0.1% fall over the month.

This was the first drop since September, and smallest of four during the last 12 months.

The annual rate of change, which is not seasonally adjusted, showed prices were up by 0.9% on April 2012, while a quarterly comparison showed a 0.5% increase on the previous three months’ averagRobert Gardnere.

April’s fall followed a flat-lining in prices in March, and reports of a slowdown in the mortgage market at the start of the year.

However, the society’s chief economist, Robert Gardner, said there were signs that activity and pricing had gained momentum.

“The three month on three month measure of house prices, which is a smoother measure of the underlying trend, has been in positive territory since October last year,” said Gardner.

“Similarly, the number of mortgage approvals has edged up from the levels prevailing last year, and there are reasons for optimism that activity levels will continue to strengthen in the months ahead.”

The society, which bases its figures on mortgage valuations it has carried out over the month, pointed to the return of first-time buyers to the market in recent months and government schemes to increase the cost and availability of credit as positive signs for the housing market.

It added that there were “tentative signs that wider economic conditions are starting to improve”, but noted that “progress is likely to be gradual”.

The most recent figures from the Land Registry showed a 0.1% rise in prices in England and Wales in March. However the data, based on completed purchases, showed vast differences between different regions, ranging from double-digit price falls in some cities to double-digit growth in some part of London.

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.

Link: House prices ‘alter little in March’

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London fuels house price divide

Category : World News

The contrast between rising house prices in London and falling prices elsewhere continues to grow, figures from the Land Registry show.

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False White House explosion tweet roils market

Category : Stocks

Stocks plunged after AP tweeted that there were explosions in the White House. But the market quickly bounced back once the tweet was revealed to be fake.

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Amazon to pilot TV shows online

Category : World News

Fourteen comedy and children’s pilot shows – including Alpha House and Zombieland – are to be put to the public vote on LoveFilm and Amazon.com.

Originally posted here: Amazon to pilot TV shows online

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