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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to 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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Yen breaks 100 mark versus US dollar

Category : World News

The Japanese currency breaches the 100 yen to the US dollar mark for the first time since April 2009.

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Yen breaks 100 mark versus US dollar

Category : Business, World News

The Japanese currency breaches the 100 yen to the US dollar mark for the first time since April 2009.

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Nikkei tops 14,000 in five-year high

Category : Business, World News

Japan’s Nikkei index surged on Tuesday, rising above the 14,000 mark for the first time since June 2008.

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Bank of Canada names new governor

Category : Business

The Bank of Canada names long-term bureaucrat Stephen Poloz as its new head, replacing Mark Carney who is going to run the Bank of England.

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Eurozone crisis live: Growth fears hit shares and oil price

Category : Business

Brent crude fell below the $100 a barrel mark overnight as concerns grow over the global economy

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Advertising budgets drop for fifth year in a row

Category : Business

Institute of Practitioners in Advertising’s quarterly Bellwether survey shows budgets fell in 2012, but offers hope for 2014

Downbeat marketers reduced their advertising budgets for a fifth year in a row in 2012, with continuing concerns about the strength of the UK economy leading to a forecast of a fall in ad spend this year.

Despite advertising-friendly events such as Euro 2012 and the feelgood factor of the London Olympics, a greater proportion of companies slashed their ad budgets last year than in 2011.

However, the Institute of Practitioners in Advertising’s quarterly Bellwether survey, which gauges the outlook of the UK marketing industry, found some cause for cheer in the first quarter this year, with marketers more confident than they were at the close of 2012.

While there was only a fractional increase in advertising budgets in the first quarter, marketing executives grew increasingly optimistic about their own company’s financial prospects with confidence at a 12-month high.

However, marketers are taking things cautiously – Bellwether is conservatively forecasting the advertising market to contract by 0.3% this year – as pessimism about the prospects for the UK ad industry continues to persist.

“While there is continued concern about the economic outlook, things do seem to be holding up,” said Paul Bainsfair, director general of the IPA.

The prospect of an advertising boom in 2014, fuelled by the World Cup in Brazil, has led the IPA to forecast ad growth of 2.3%.

The IPA’s growth forecasts are far more pessimistic than those of Warc, the marketing intelligence service, which were also released on Thursday. Warc estimates the UK will grow by 3.1% next year, although this is a downgrade of almost one percentage point from its November report.

“While the Bellwether is suggesting the economy is recovering, it looks set to be another challenging year for businesses and the pace of economic expansion is likely to be modest,” said Chris Williamson, chief economist at Markit which compiles and authors the report for the IPA.”

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Washington DC Plastic Surgeon on How to Look and Feel Young in One’s 50s

Category : Stocks

Dr. Mark Richards Recommends Ideal Procedures for Patients Over Age 50

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That’s rich: new Bank chief’s wife condemned for London rents moan

Category : Business

Critics attack remarks by Diana Carney, wife of Mark, who will enjoy a near-£5,000 a week housing allowance

London’s sky-high house prices have been the subject of dinner party laments for years. Now even the wife of the incoming governor of the Bank of England, who has a near-£5,000 a week housing allowance, has been fretting about finding a home in the capital’s overvalued market.

Diana Carney, married to Mark Carney, who will take up the reins at the Bank of England in July, sparked a flurry of criticism about her search for a home in the capital.

Passing on a news story about France scaling back wealth taxes, which is believed to have triggered an exodus of well-heeled Parisians to London, Diana Carney indicated that it might take the heat off the housing market. The British-born Oxford University graduate quipped: “Maybe I’ll be able to find a place to live in London after all.”

Mark Carney, currently governor of the Bank of Canada, will get an annual housing allowance of £250,000 a year, taking his total pay close to £1m, part of a generous package blessed by the chancellor, George Osborne, to lure the Canadian banker to London.

Carney defended his bumper pay deal last month, saying his package was equivalent to the pay and pension of the outgoing governor, Mervyn King.

“The housing allowance relates to the fact that I am moving from one of the cheapest capitals to one of the most expensive capitals,” he told MPs on the Treasury select committee.

The former Goldman Sachs banker will be leaving the affluent neighbourhood of Rockcliffe Park, Ottawa, where he has lived since 2003. In this upscale village, a stately mock Georgian townhouse with five bedrooms, landscaped garden, sauna and fitness rooms is going for $3m (£1.8m). In London’s overheated property market, this would get you a five-bedroom house in Acton, with easy access to the central line – handy for anyone going to Bank.

The Carney family’s weekly budget, about £4,800, would stretch to a two-bedroom flat in Mayfair with views over Green Park, but this is hardly suitable for their household of six. More appropriate might be a four-bedroom house in leafy St John’s Wood going for £19,500 a month.

Labour politicians in London condemned the remarks, which come just as the government is about to cut housing benefit for people deemed to have a spare room, the so-called bedroom tax.

“Even if she is being ironic, the fact is she and her husband are being paid a £5,000 a week subsidy when the very poorest are having £17 a week of public support taken away,” said Paul Dimoldenberg, leader of the Labour group on Westminster council, in the Evening Standard. “Presumably this public subsidy reflects the fact that housing costs in central London are very high. But if it is acceptable to subsidise the governor of the Bank of England how come the very poorest people who already live in central London are being demonised and run out of town?”

Diana Carney is an outspoken development economist, who is vice-president of research at left-leaning thinktank Canada 2020. Under her maiden name, Diana Fox, she runs an eco-products website, where she describes herself as “a multi-tasking mother of four”.

Having described herself as “British by birth and Canadian by choice”, Diana Carney has made it clear she does not intend the move to the UK to be permanent. “Canada is certainly a hard country to leave. But we will be back in 5,” she tweeted in November.

Both the Bank of England and the Bank of Canada declined to comment.

Blackstone weighs Dell bid, considers new CEO

Category : Business, Stocks

Blackstone is considering other Dell CEO candidates, just in case. Oracle’s Mark Hurd is on the short list.

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VIDEO: Lagarde: ‘Women should not imitate men’

Category : Business

To mark International Women’s Day, former White House Press Secretary Dee Dee Myers asks IMF chief Christine Lagarde what would happen if women ruled the world.

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