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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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Jurors deliberate in Jodi Arias murder trial amid media spectacle attracting fans … – Fox News

Category : Stocks


San Francisco Chronicle
Jurors deliberate in Jodi Arias murder trial amid media spectacle attracting fans
Fox News
PHOENIX – It has become a real-life soap opera for people around the world and dozens of fanatics who camp out on a Phoenix sidewalk early in the morning to get into the show. One seat even sold for $200. A cable network has set up a stage nearby for
Jurors deliberate Arias fate amid spectacleHilton Head Island Packet

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Italy’s new government faces confidence vote – Eurozone crisis live

Category : Business

Prime minister Enrico Letta faces a confidence vote this afternoon, after a sale of Italian debt this morning

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VIDEO: New batteries give Dreamliner take-off

Category : Business

An Ethiopian Airlines 787 Dreamliner is due to take off from Addis Ababa on Saturday morning, the first commercial flight by the Boeing aircraft since all 787s were grounded in January.

Read more: VIDEO: New batteries give Dreamliner take-off

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At Least 100 Killed in Large Earthquake That Struck Sichuan, China; Save the Children Ready to Respond

Category : Stocks

BEIJING, CHINA–(Marketwired – April 20, 2013) - A 7.0 magnitude earthquake rocked the Sichuan province of China on Saturday morning, killing at least 100 and leaving thousands injured.

Read more here: At Least 100 Killed in Large Earthquake That Struck Sichuan, China; Save the Children Ready to Respond

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Eurozone crisis live: German parliament debates Cyprus bailout

Category : Business

Bundestag MPs expected to criticise the handling of the Cypriot rescue plan this morning, with a vote expected around 10am BST (11am CET).

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Banks, retail sales to set stocks tone

Category : Business, Stocks

Investors head into Friday morning awaiting quarterly results from two of the world’s largest banks and retail sales data after the Dow and S&P 500 set new record highs.

See the rest here: Banks, retail sales to set stocks tone

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Morning business round-up

Category : Business, World News

Our daily morning business round-up looks at the main stories in Europe and Asia.

Original post: Morning business round-up

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Three killed in Queensland floods – Irish Times

Category : Stocks


Irish Times
Three killed in Queensland floods
Irish Times
Cheryl McDowell stands outside her flooded home in Bundaberg as eastern Australia continues to be lashed by heavy rain and gale force winds. Photograph: Mackie Marsellos/ Reuters/Australian Broadcasting Corporation
Mass evacuation under way in BundabergSydney Morning Herald
Leave or you could die: flood orderThe Australian
Three people have died and hundreds of homes are under water after heavy BBC News
ABC Online

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Davos diary: Mario Monti takes a stab at stand-up

Category : Business

Graeme Wearden on the World Economic Forum’s behind-the-scenes shenanigans and off-the-cuff revelations

If Mario Monti does receive the order of the boot in next month’s Italian elections, he could try a late career change into stand-up. Monti relayed to Davos how a Qatari royal had told him that “corruption” was the biggest factor preventing Qatar investing in Italy. “I must tell you, I was a bit shocked,” Monti dead-panned. “Partly because it wasn’t the King of Norway talking.” That’s bound to bring the Middle East petro-money pouring in.

**

Two US visitors were overheard grumbling that they had missed the opening sessions (including Jamie Dimon bashing the banker bashers) because they took place too early in the day. “They should just devote the morning to issues that are interesting to European visitors,” bemoaned one. Or Davos staff could leave alarm clocks instead of complimentary chocolates in visitors’ rooms. One of our party missed out on the choccies, though, and found a sausage lovingly placed in their bedroom instead. We’ve not eaten it (yet …)

**

Davos’s pavements are notoriously slippery, but for some visitors the Congress Centre is also a dangerous place. One woman narrowly missed scattering the gaggle around Jamie Dimon like nine-pins, after failing to spot a small step and tumbling over. “Second time I’ve seen that this morning,” whispered one UK hack. We’ll set a video camera up tomorrow.

*

Russia’s prime minister, Dmitry Medvedev, wasn’t shaken by the news that almost 78% of people in the Davos Hall felt “better governance” was the top priority for the Federation. “I knew that most people at Davos would vote that way,” he said. “I voted for another option.” So, it would have been even more of a landslide if Medvedev had gracefully abstained.

**

Davos was spared any serious snow showers on the opening day of the World Economic Forum’s annual get-together. Instead, it was David Cameron’s long-awaited speech on an EU referendum that slightly rained on the WEF’s parade. Few UK CEOs avoided being quizzed about it – while one US banker waved the query away as he had quite enough on his plate without “taking on the UK government’s challenges as well”.

Those “distinguished” enough to remember the last UK referendum were in a nostalgic mood. Sir Howard Davies (no eurosceptic today) reminisced about how “there were only two no votes from ’74 in the Foreign Office when I worked there, and one was me”.

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Miss of the day – failing to catch up with Dame Ellen Macarthur (or her doppleganger) for some serious hero worship, after she navigated the crowds with rather more aplomb than your humble correspondent.

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Davos appears to have put its dressdown years behind it. An unscientific poll of the lounge after lunch showed a clear majority of male visitors wearing ties. Two years ago, Mark Zuckerberg’s decision to don a tie was deemed newsworthy – clearly the Facebook founder is more of a fashion trendsetter than we thought.

Christmas shoppers flood high streets in last-minute gift hunt

Category : Business

Sales up in London, but rest of UK short on cheer, as retailers pin hopes on final ‘bonus’ weekend

The panic was not yet at last-helicopter-out-of-Saigon levels, but those crowding the doors of Selfridges in the West End of London before its late Sunday opening had the concentrated, wary look of people only too aware their Christmas shopping options were diminishing by the hour.

“I’m very focused – it’s just a question of finding this one thing, buying it and getting out,” said Nicky Clarke, a 40-year-old mechanic who had travelled from his home in Newark, Nottinghamshire, to locate a particular present for his girlfriend that proved unavailable during his main Christmas expedition to Lincoln on Saturday. “By the time I realised I couldn’t get it near home it was too late to order it online,” he said. “I found out Selfridges had it in stock, so I came down on the train this morning.”

It is Clarke and his last-ditch ilk who, retailers hope, could make this Christmas merely bearable rather than downright depressing, as seemed likely from uninspiring footfall and sales figures earlier in the month.

The British Retail Consortium has reported national shopper numbers “consistently down on 12 months ago”, thus pinning all the more importance on this final weekend.

Saturday at least appeared hugely busy at shopping centres from Bluewater in Kent to Union Square in Aberdeen, with forecasters predicting a £5bn spend over the two days. A number of retailers also chose to open stores from midnight in a bid to make up for any sales lost to the limited Sunday opening hours.

Early on Monday morning dozens of shoppers flocked to Marks and Spencer Simply Food in West Wickham, south London, when the store opened at midnight to stock up on last-minute goods.

Most customers had chosen to visit the store for late night shopping in a bid to avoid the massive queues expected on Christmas Eve.

Hayley Rose, 24, said: “I visited the store earlier in the day and you couldn’t move because of the number of people. It was chaos.

“I prefer to come at midnight as it’s less stressful. I would encourage other stores to open at midnight in the run up to Christmas.”

But some were left disappointed with the lack of choice available on the shelves.

Rebecca Adams, 41, said: “I would usually have come first thing in the morning on Christmas Eve but when I heard it was opening at midnight I thought it would mean I’d have a great choice as the shelves would have been filled.

“But I’m disappointed with the amount if stock on the shelves. If I’d have known it would have been like this I wouldn’t have come at this time. I would’ve saved it until the morning.”

Christmas Day last year fell on a Sunday, while this year there is in effect an extra weekend for people to spend their money.

This, and the tendency for more and more shops to offer discounts immediately before Christmas, particularly online, rather than wait for the Boxing Day sales, has pushed the seasonal dash to the shops later than ever, with many hard-up consumers holding their nerve in the hope of bargains.

If they do stay away, it may prove disastrous for the high street. A report on Monday says 140 retail groups are in a critical financial position, with a poor Christmas potentially enough to send them into insolvency.

The research, by the business recovery group Begbies Traynor, also estimates more than 13,700 retailers are in “significant” distress.

As ever, London is the exception. Sunday’s queues to even enter the Louis Vuitton concession in Selfridges may seem anomalous amid reports that twice the number of British households as last year will rely on food banks this Christmas.

Of course, much of this is down to visitors. A retail economy already semi-detached from the rest of the UK, London is further boosted at Christmas by tourists. The capital has been less affected by the slow shopping buildup seen elsewhere, said a spokesman for New West End Company, which represents retailers in Oxford, Regent and Bond streets.

He said: “We’re quite fortunate with the tourists that come in during December, which are mainly British at this time of year. A lot of people say they didn’t come down during the summer because of the Olympics, so they’re going at Christmas time, which has worked well for us in terms of retail sales.

“We’ve had a really good couple of weeks. It’s been building since early December. We’ve been double-digits up most weekends last month for footfall, against the same period last year. We report monthly on sales, but we get updates every week and that’s anywhere between 2% and 10% up.”

But even in London many people were being careful. Despite his last-minute dash to the capital, Clarke said his overall spending was considerably down on last year. “I’ve bought a house, which needs a lot doing to it, so I’ve taken a month off work to get it at least partly ready for Christmas. There’s been a lot of belt-tightening all round.”

In the crowd awaiting the opening of John Lewis down the road, Felicity Orme, 24, was, like many of her generation, looking forward to a modest Christmas. “For my friends who have also graduated quite recently it can be difficult, particularly with rents so high,” she said.

Orme had taken time off from her job playing the harp to guests at a five-star London hotel to buy a last-minute present for her mother, soon to arrive from the family home in Congleton, Cheshire.

“She’s told me that all she wants is an umbrella and some chocolates. I’m in luck.”