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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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China probes top economy official

Category : Business

China launches an investigation into senior economic policymaker Liu Tienan for corruption, state media report.

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Mindpix Corp. (MPIX: OTC Pink Limited) | Mindpix Corporation Announces Co-Production Agreement with Lerer Media and Mission One Voice™

Category : Stocks, World News

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Mindpix Corporation Announces Co-Production Agreement with Lerer Media and Mission One Voice™

PR Newswire

LAS VEGAS, May 10, 2013

LAS VEGAS, May 10, 2013 /PRNewswire/ –

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Huawei boss in first media interview

Category : Business

Ren Zhengfei, the founder of China’s Huawei – the world’s second-largest telecom equipment maker – speaks to the media for the first time.

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Global eTelecom, Inc. to Be Featured on 21st Century Business Television May 8 and May 11, 2013

Category : Stocks

FT. WALTON BEACH, FL–(Marketwired – May 7, 2013) – Multi-Media Productions (USA), Inc. is pleased to announce that Global eTelecom, Inc. (GETI) will be airing on 21st Century Business on CNBC (as paid programming) on May 8, 2013 and on the Fox Business Network (as paid programming) on May 11, 2013. Click for CNBC Airing Schedule. Click for Fox Business Airing Schedule.

Continue reading here: Global eTelecom, Inc. to Be Featured on 21st Century Business Television May 8 and May 11, 2013

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On the frontline of the fight against cybercrime

Category : Business

Symantec’s Dublin hub, with 800 workers including 60 in its security division, plays a key part in global computer security

Inside the tightly controlled security area of Symantec’s Dublin headquarters, a screen on the wall flashes up hacking hotspots as they are detected around the world. Last year the company estimated it blocked nearly 250,000 cyber-attacks. One out of every 532 websites was infected with viruses, it said, and 1.6 million instances of malware were detected.

Overall, cyber-attacks were up 42% in 2012. They range from “hacktivist” targeting of industries such as defence to the fast-growing area of “ransomware” blackmail attempts, but more than a third of attacks focused on small- to medium-size businesses employing fewer than 500 people.

Orla Cox, the senior manager of security response at Symantec’s office in north-west Dublin, said hackers – including criminal gangs, individuals and even states – regarded smaller enterprises as “stepping stones” to enable them to attack larger corporations.

In a briefing last week, Cox also said Twitter was perceived as a weak link. Last month Syrian hackers claimed responsibility for a bogus tweet from an Associated Press account that sent stock markets into temporary freefall. “The security of Twitter is not strong and Twitter is going to have to do something about that,” Cox said.

Symantec’s Dublin hub, with 800 workers including 60 in its security division, plays a key part in global computer security because in terms of timezones it lies between the company’s two other main operations, in California and Tokyo.

The Irish office was the first to detect the Stuxnet virus, which has caused severe damage to the Iranian nuclear programme in Natanz. The virus, which entered the country’s nuclear industry system via computers sold to Iran from Europe, caused centrifuges used in uranium enrichment to spin out of control. Symantec is reluctant to state its view on the origin of the highly sophisticated virus but most security analysts believe Israel was behind it.

Cox said Stuxnet was probably not the end of it. She predicted those behind the virus were probably developing a new “son of Stuxnet” in the campaign to sabotage Iranian nuclear efforts.

Ransomware has become a bigger challenge in the last 12 months, according to Symantec. The company has identified 16 cybercrime gangs using ransomware, which in the space of 18 days in 2012 alone infected 500,000 computers.

“It works by shutting down your computer with a virus and then sending out a bogus warning that a user has been looking at something illegal,” Cox said. “They tell the user they can only get the computer back running if they pay a ransom, in some cases of $100, usually by buying a moneypack voucher and then sending the code transferring the amount to the gang. If the user for instance has been browsing a porn site they are going to believe the warning and pay up.

Such scams netted the 16 gangs about $5m in 2012, she said. In many cases paying through an anonymous money transfer system did not necessarily ensure an infected computer was unlocked, the company pointed out. In some cases ransomware can capture images of the targeted user via webcam, which is displayed when a computer screen is frozen to intimidate the victim.

Cox said there were now online toolkits hackers could buy on the internet to enable them to break into bank accounts. She said hacking into the financial system and online banking theft was mainly the work of gangs from Russia, Ukraine and other former Soviet states.

Symantec also expressed concern about teenagers and young adults being targeted on Twitter, Facebook and other social networks because they were less guarded about their personal data and in particular their usernames and passwords. The company said the intersection of smartphones and social media would become an important security battleground.

Cox said Symantec believed Apple products were less prone to attack, with iPhones for instance being safer because they are “completely locked down”. However, she said Apple Macs are “not impervious” to hacking.

In the last weekend of April the Guardian also came under a cyber-attack from Syrian hackers who have targeted a series of western media organisations in an apparent effort to cause disruption and spread support for Bashar al-Assad’s dictatorship. The Syrian Electronic Army (SEA) claimed responsibility for the Twitter-based attack, having previously also targeted the BBC, France 24 TV, and National Public Radio in the United States.

Cyber-attacks believed to emanate from North Korea have recently caused disruption to media organisations in South Korea.

WPP: Big is beautiful at Sorrell’s marketing group – but for how long?

Category : Business

World’s largest marketing services group continues to grow, but questions remain what would happen if its chief left

This week MediaGuardian 25, our survey of Britain’s most important media companies, covering TV, radio, newspapers, magazines, music and digital, looks at WPP.

L’Oreal is one of the seemingly few global advertisers that Sir Martin Sorrell hasn’t managed to snare, yet after he pocketed almost £18m for running WPP last year some investors have been left muttering a version of the beauty brand’s famous strapline: “Is it really because he’s worth it?”

WPP’s chief executive took a rare blow on the chin last week, bowing to shareholders’ outrage at the scale of his pay packet, accepting a £150,000 salary cut, a 20% reduction in bonus and a significantly reduced long-term incentive programme.

Investors will get a chance to have their say at WPP’s annual meeting in June, with some complaining the board is too quick to kowtow to the company founder’s will. “WPP will probably trot out ‘oh but he formed this company from scratch …’, and he has sold [people] that [line] over and over again,” says one City source. “Entrepreneurs only tend to get paid out once when they float their company. Sorrell likes to be paid like an investment banker.”

It has been 28 years since he took the gamble on Wire and Plastic Products, a stockmarket-listed manufacturer of wire baskets, which he has used as a vehicle to create the world’s largest marketing services company. Last year WPP made more than £1bn in pre-tax profits and £10bn in revenues. It has a market capitalisation of more than £13bn.

“WPP is doing incredibly well, I think Martin is a force of nature and has built an amazing company,” says a senior advertising executive who once worked with Sorrell. “It is the most successful communications group in the world and Martin has led it brilliantly.” But some wonder whether the sprawling juggernaut – which employs 165,000 staff globally – is getting beyond the control of even the indefatigable Sorrell.

“It is too big, it is a bit like the Roman empire and is held together by one man’s force of will,” says the senior adman. “Therein lies the danger, there is something Napoleonic about it all. WPP is so big, it is almost unmanageable.”

Maybe so, but City analysts love the company – last year WPP’s share price rose 31% from 675p to 888p: “It will take more than another fat pay cheque to Sir Martin to spook the shareholders into selling,” says Anthony de Larrinaga, managing director at financial research company WYT.

Although there is an ongoing debate about whether Sorrell, who hates to see a prize asset go to a rival, overpaid in deals such as the £1.1bn purchase of research firm TNS, WPP is ticking the right boxes. “WPP is well-postioned from the three key angles of geography, clients and devices/product mix,” says Johnathan Barrett at Singer Capital Markets.

WPP’s engine is fuelled by its massive media buying capability: its Group M division uses its advertising buying power to get the best deals for clients across media including TV, press, radio and online. The advertising and media buying operation made £4.2bn in revenues last year, almost 42% of the total, and operating profits of £755m, just under half of WPP’s total.

The growth rate of WPP’s media buying operation alone, which is well over double the size of any rival in the UK, was a storming 7.4% in 2013′s first quarter. Group M controls about £1.2bn of UK TV ad spend, 30% of the market, and is almost as strong in other media. Potentially most concerning is that in most cases the closest rival media agency group is lucky to hold a market share of about half that of WPP.

“It has reached a stage that [media owners] can’t say no to Group M,” says a senior executive at a rival agency. “Their clout is unmanageable.” An example is Group M’s highly-publicised move to pull its £300m annual TV ad spend from Channel 4, close to a third of the £1bn the broadcaster takes in ad revenue annually, in a bid to drive down prices on commercials for WPP clients.

“[The outcome] was a draw, of sorts,” says one TV industry insider. “Group M didn’t come out looking so good reputation-wise, the publicity and the boycott turned out to be an uncomfortable place to be.” WPP would counter that such views are rivals’ sour grapes.; that other media groups have pulled client ad spend to get better deals, and that Channel 4 is perhaps not the force it was in terms of value for money Rival Aegis Media once boycotted Channel 5 for the best part of nine months, and more recently there was a spat with News International over the value it delivers for advertisers.

“Dominance and market leadership are two different things,” says a spokesman for WPP. “There is no lack of competition in the market. Group M is a strong leader in this highly competitive market, and benefits of leverage accrue to the clients.”

ITV’s family of channels has a 46% share of the TV advertising market, Channel 4 about 28%, Global Radio almost 60% of the radio advertising market and News International’s newspapers 25% share of press advertising. They are big enough to handle forceful negotiations, some say, adding that if you want to look at market dominance focus on Google’s 92% share of the UK search market.

“ITV and Associated [owner of the Daily Mail] may be able to withstand Group M, but most others are bullied and fall over,” says the senior media industry executive. But for how long will WPP still have that kind of power? What happens when Sorrell steps back is the question WPP-watchers describe as the elephant in the corner of the room.

The 68-year-old has ruled with an iron grip and there are those who believe that WPP will founder without him. “They’ll be fine until he goes,” says a senior advertising executive. “Then it’s a house of cards.”

Philip Lader, WPP chairman, said last week that there are twice-yearly discussions to prepare for Sorrell’s eventual departure – which could theoretically be abrupt, given his contract allows him to leave “at will” – and that the aim is not to “identify another Martin”.

“We earnestly endeavour to remain prepared for this inevitable transition,” Lader told shareholders. “That time, however, is not now. There’s no ‘elephant’ in the [WPP board] room.”

Starting a food business: Q&A roundup

Category : Business

Last week a panel of experts answered your questions on starting up in the food industry. Here are the highlights

Monique Borst is a food business development expert

How can you check if your food business idea is viable?: In my experience, people often mistake their aptitude for cooking or passion for food as a shoo-in for business success. Rather than write a full business plan, one quick and easy way to determine whether your food business idea is potentially viable is to run through this checklist:

1. Do I have a market for it?

2. Do I know how to reach the people who might want this?

3. Do I have the resources, skills and time to do this?

4. Is this something people will pay for?

5. How sustainable is this business?

6. Is the business marketable?

Paul Bray is an associate director at Smith & Williamson

Be sensible when financing your food business: The key message has to be not to over-stretch yourself in the early periods. Start small and grow at a sensible pace, otherwise you will be running around chasing your tail – get a sound start underway and then progress in time, rather than rush.

Jean Edwards is the managing director at Deli Farm Charcuterie

Farmers’ markets are a good way to test your product when starting up: When I started just over seven years ago my only sales were through a regular weekly farmers’ market; it was a brilliant way of getting to market and meeting people, getting feedback and so on. By the end of our first summer I was too busy to attend the market on a regular basis, but would never look back on the contacts that I made from there.

What sort of environmental health regulations arise when starting a food business from home? A lot depends on what type of business you are thinking of starting and where you see your customer base. All food premises have to be passed by environmental health, so I would suggest you have a preliminary meeting with your local environmental health officer (EHO), explain exactly what you are intending to do and they will advise you. Remember your EHO is a source of free information – use them as a resource and not the enemy!

Miranda Ballard is the co-founder at Muddy Boots, a beef burger company

What to think about in terms of location: You’ll know where you should be by doing research into the market and your demographic. Go where your customers are so that you’re surrounded by them and you can start selling to them. Remember to be where you want to be too – no point living where you’re not happy. There’s no point taking all the risks and stresses of having your own business if you’re not happy with where you’re living. What’s best for the business is also what’s best for you – there’s more chance the company will survive if you’re happy.

You can still be a British brand with ingredients sourced elsewhere: We’re a British food brand, from a marketing and content perspective. Some of our ingredients (tomato puree, garlic, black pepper) are imported. We’ve seen all those prices go up in the past 18 months because of transport, labour and production. The idea that all food produced in Britain will stay in Britain doesn’t acknowledge the foods that can’t be grown or produced here – our taste buds will have to revert after these glory years!

Think carefully about how you use social media: In the past month, I’ve been really thinking about social media for small businesses. I think there’s a danger that the massive national or global platform that it brilliantly provides can actually sometimes be too wide a marketing spread for the small business. What I mean is, we all know that we’re meant to find our demographic and then target them, to the point of excluding everyone else. I worry that small businesses can get distracted with the cross-demographic appeal of social media. It’s important to remember you have to work hard to find and appeal to your own demographic – a like or a retweet from someone in your demographic is much, much more valuable than 100 from those outside it.

Roopa Rawal is the co-founder at Devnaa, a luxury Indian-inspired confectionery company

Know your brand: Be really passionate about your products and do everything you can to build a good reputation for your brand – interact with consumers as much as possible. Customer care is really important especially with food, as even though ingredients are all written down people will want to be assured of the taste, quality of ingredients, allergy information and so on. The best part is that if they like it they will definitely go out and tell everybody they know about it.

Quality of food is paramount at the moment: I think more so than with healthy eating, consumers are becoming more aware of the quality of what they eat and drink. As people have become more health conscious they’ve also realised that the quality of what they consume plays just as big a part in maintaining their health – even if they want a treat.

Philippa Taylor works at Grand Union PR, a food PR company

Think about how you portray yourself online: Make sure that you have a domain name which is unique to you for a hosted website which you can customise yourself, and that your website is set-up to either sell online, act as a brochure or both. Drive traffic to your site by regularly updating it with seasonal and limited edition products, newsletters, competitions, recipes and testimonials and so on. Link all your promotion together on the social media channels you use and push customers towards your website. Set up Google Analytics so that you can see what works and what doesn’t.

Offline, think about taking information and images from your website and using them in leaflets at markets, on pop-up banners at events, and as press releases for journalists.

This content is brought to you by Guardian Professional. To receive more like this you can become a member of the Small Business Network here.

On press freedom day, remember the dead – and the need for common sense

Category : Business

Thirty-two journalists have already died on duty this year. In Britain, meanwhile, it’s charter vs charter, and Cameron needs to get a move on

The latest chink of commonsense emerged on World Press Freedom day on Friday, appropriately enough. Journalists around the globe were remembering the 32 of their number who have died on duty already this year. The World Association of Newspapers, assessing threats to open reporting, singled out Britain, post-Leveson, as a cause for concern. And David Cameron, with Ukip to worry about, did the pragmatic thing. He dropped 15

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Publicis Groupe S.A. (PUBGY: OTCQX International Premier) | Digitas and Outrigger Media Announce Exclusive Partnership to Identify YouTube’s Rising Stars

Category : Stocks

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Digitas and Outrigger Media Announce Exclusive Partnership to Identify YouTube’s Rising Stars

Industry-First product — Emerging Talent Tracker — to leverage data and advanced logic from Outrigger’s OpenSlate Platform

PR Newswire

NEW YORK, May 2, 2013

NEW YORK, May 2, 2013 /PRNewswire/ –

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