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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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Stocks Plunge Ahead of Eurozone Summit

Category : Stocks

NEW YORK (TheStreet) — Stocks fell sharply Monday morning as a better-than-expected new home sales report failed to mollify investor anxiety about the potential outcome of the eurozone summit later this week.

The Dow Jones Industrial Average was shedding 153 points, or 1.21%, at 12,484. The S&P 500 was down more than 20 points, or 1.51%, at 1315, and the Nasdaq was plunging 50 points, or 1.73%, at 2842.

The Commerce Department reported Monday the U.S. new-home sales rose more than expected in May to a seasonally adjusted annual rate of 369,000 — the best levels going back to April 2010. …

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Regions: Financial Winner (Update 1)

Category : Business

Updated with market close information, the European Central Bank’s expansion of eligible collateral and a discussion on Regions Financial.

NEW YORK (TheStreet) — Regions Financial ended up the winner among the largest U.S. financial names on Friday, with shares rising 3% to close at $6.68.

The broad indexes all rose after the European Central Bank boosted available liquidity for eurozone banks, by lowering collateral requirements for its lending activities. The central bank’s governing council “reduced the rating threshold and amended the eligibility requirements for certain asset-backed securities (ABSs),” thus broadening “the scope of the measures to increase collateral availability which were introduced on 8 December 2011 and which remain applicable.” …

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Moody’s Cuts the Ratings of 15 Banks: Hot Trends

Category : Stocks

A look at the most searched trends on the Web, including Moody’s after the ratings agency cut the credit ratings of 15 major banks.

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Bank Watchdogs to Loosen Rules if Europe Tanks: Report

Category : Stocks

NEW YORK (TheStreet) — International regulators could ease the liquidity requirements under new international banking capital rules in response to the European crisis, the Wall Street Journal reported, citing people familiar with the matter.

New Basel capital rules designed to make the international financial system safer require banks to hold more capital against risky assets and also step up liquidity in order to deal with cash crunches at the time of crisis.

The rules kick in from next year and will have to be fully implemented by 2019. …

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Johnson & Johnson’s Synthes Deal Revives Foreign Tax Debate

Category : Business, Stocks

NEW YORK (TheStreet) — To make the largest deal in its 126-year history an earnings boost, Johnson & Johnson is keeping its acquisition of Synthes as far as from the U.S. taxman as possible.

After receiving regulatory clearance for its $19.7 billion acquisition of Swiss medical device maker Synthes, Johnson & Johnson says the mega-deal will add to earnings per share after previously forecasting dilution: All with the help of bankers JPMorgan Chase and Goldman Sachs. …

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JPMorgan: Senate Softball Questions Winner

Category : Business, Stocks

NEW YORK (TheStreet) — JPMorgan Chase was the winner among the largest U.S. financial names on Wednesday, with shares rising 2% to close at $34.30.

The broad indexes declined 1%, after the U.S. Commerce Department reported that retail sales fell by a slightly less than expected 0.2% in May, after falling by a downwardly revised 0.2% in April. Economists surveyed by Briefing.com had expected that sales contracted by 0.3% in May. Retail sales, excluding autos, fell 0.4% in May, after declining 0.3% in April.

The KBW Bank Index dipped slightly to close at 43.42, with 15 of the 24 index components seeing declines for the session. …

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Cramer’s ‘Mad Money’ Recap: It All Hinges on Europe

Category : Business

Search Jim Cramer’s “Mad Money” trading recommendations using our exclusive “Mad Money” Stock Screener.

NEW YORK (TheStreet) — Next week once again hinges on Europe, Jim Cramer told “Mad Money” viewers Friday as he laid out his game plan for next week’s trading. Cramer said if the European leaders can come up with any sort of resolution, nothing else will matter. But if they don’t, the markets just may give back all their gains from this week. …

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Market Will Break Up Big Banks, Not Fed: Bernanke

Category : Business, Stocks

NEW YORK (TheStreet) — Calls to break up the big banks are on the rise, but Federal Reserve Chairman Ben Bernanke suggests just leaving it to market forces.

In Congressional testimony Thursday, Bernanke said that post-crisis regulations requiring large banks to hold higher capital and subject them to a greater supervision will “take away the advantage of size.”

“Market forces themselves will make it attractive to downsize, rationalize and so on,” said Bernanke. …

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Jamie Dimon Should Resign From Fed Now: Readers Speak

Category : Business

NEW YORK (TheStreet) — JPMorgan Chase CEO Jamie Dimon should step down from the board of the New York Federal Reserve in the wake of the bank’s $2 billion trading loss, readers of TheStreet said in a poll.

Though Dimon has argued that he serves primarily in an advisory capacity on the board, critics from Massachusetts Senate hopeful Elizabeth Warren to former IMF economist Simon Johnson argue that he has an undue influence on the regulator and that his presence on the board undermines an investigation into the bank’s trading fiasco.

Johnson’s petition on Change.org calling for his removal has received nearly 35,000 signatures. …

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Market Preview: Feel the Fear

Category : Business, Stocks

NEW YORK (TheStreet) — So what exactly is going to bring investors back after a May like that?

Thursday’s last-minute wipeout was a fitting end to a beyond ugly month, and all the same questions — Greece, Spain, the fiscal cliff, what happens when Operation Twist is over? … take your pick — remain.

Corporate America is holding up okay. First-quarter earnings season was better than expected and the forward price-to-earnings multiple for the S&P 500 isn’t out of whack at 12.5X, but there’s some reason to worry. Earnings estimates for the second quarter have come down in the past month, according to data from Thomson Reuters, which says analysts are now expecting profit growth of 7.4% vs. 9.2% on April 1. …

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