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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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Joint Ministerial Statement by the Honourable Keith Ashfield, Minister of Fisheries and Oceans, and the Honourable Leona Aglukkaq, Member of Parliament for Nunavut and Minister of the…

Category : Stocks, World News

…Canadian Northern Economic Development Agency (CanNor)

Follow this link: Joint Ministerial Statement by the Honourable Keith Ashfield, Minister of Fisheries and Oceans, and the Honourable Leona Aglukkaq, Member of Parliament for Nunavut and Minister of the…

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HTC profit slump confirms Samsung and Apple as smartphone leaders – The Guardian

Category : Stocks

The Guardian
HTC profit slump confirms Samsung and Apple as smartphone leaders
The Guardian
The divergent fortunes within the $200bn (£130bn) global smartphone market were laid bare this week when Taiwan's HTC reported a 98% slump in profits, confirming Samsung and Apple's seemingly unassailable lead over their rivals. In 2010, HTC was the
Smartphone innovation: Where we're going next (Smartphones Unlocked)CNET
Taiwan's HTC: not so brilliant, but management is resilientFinancial Times (blog)
New HTC smartphone already getting good

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They cost us billions, yet our disgraced bankers are still getting away with it | Aditya Chakrabortty

Category : Business

Despite HBOS chief James Crosby losing his knighthood, our banking elite remains largely impervious to retribution

First came Sir Fred of Shred, the former RBS boss who had to have both knighthood and part of his pension prised from his fingers. Yesterday was the turn of James Crosby, who volunteered for the same deal, and also lobbed in an apology for his fecklessness at HBOS. Bit by bit, the cloak of invincibility that still shrouds our disgraced banking class starts to rip. Some accountability is better than none, of course, however delayed or partial. But I can’t help feeling dissatisfied at this particular form of rough justice, which relies on one parliamentary report attracting sufficient attention from the press to catch the eye of Vince Cable – who just happens to be at a loose end during recess and looking to cause some trouble.

However improvised that chain of events sounds, it roughly describes how Crosby came to give up his gong nearly a week after a publication laid into his record at a bank which collapsed five years ago. But why should he alone take the rap, and not Andy Hornby, who replaced him as CEO in 2006 (earning £1.9m a year)? Or Lord Dennis Stevenson, who chaired the company throughout its short and calamitous life (a part-time job with a salary of £821,000)? When the failed bank finally took £20bn of taxpayer money, Stevenson argued that he should remain in post. “He was absolutely furious,” a government source told Ray Perman for Hubris: How HBOS Wrecked the Best Bank in Britain. “He didn’t see what he had done wrong and why he couldn’t stay.”

That executive brazenness has barely been checked since, with the trio claiming that without the meltdown on Wall Street their bank would still be upright. But as the MP Andrew Tyrie’s investigation shows, that assertion is worth about as much as a subprime mortgage on a Californian condo: by 2008, one in 10 of HBOS’s loans were bad – a higher proportion than any other big bank in Britain. These men weren’t unlucky: they were unfit to run a financial institution. The cost of their arrogance and greed will be borne by taxpayers for years. They all deserve punishment. Instead of which, Hornby is now boss of Coral the bookmakers, and Lord Stevenson has a charming portfolio career of advisory roles and trusteeships and boardroom seats. Meanwhile, the bank they used to run is now part of Lloyds Group, which is seeking to cut around 35,000 jobs.

But why stop at HBOS? Have a look at the first of our 21st-century banking failures, Northern Rock, whose former chief executive was last seen consulting to a US private equity fund. Its former chairman, Matt Ridley, writes leaders for the Times and successfully stood last year for election to the House of Lords. His shyness only appears when discussing the bank he helped drive to ruin; when this paper interviewed him in 2010, my colleague Jon Henley was forced to begin his piece thus: “Let’s get the bad news over with first: we can’t talk about Northern Rock.” That condition secured, Ridley happily plugged his latest book.

This imperviousness to retribution is the flipside of the bankers’ imperviousness to regulation; and it is borne of the same sense of untouchability. As Gordon Brown’s go-to man to chair commissions and sit on the Financial Services Authority, Crosby could easily wave away official warnings that HBOS was an “accident waiting to happen”. The collective arrogance was largely justified. The FSA has still not published a full review of what went wrong at HBOS; and its first serious publication on the fall of RBS was a one-page press release stating simply that “bad decisions” had been taken. Just as the banking elite got away with it during the boom, so they have largely got away with it in the bust.

Bank executives “have easier access to the people at the very top than the regulators have,” Mervyn King told MPs last month. This summer, he will be succeeded at the Bank of England by a former employee of Goldman Sachs.

Twitter: @chakrabortty

Carrier bag tax in NI is introduced

Category : Business, World News

The new tax on plastic carrier bags comes into effect in Northern Ireland later.

View original post here: Carrier bag tax in NI is introduced

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Canadian Army Trains for Winter Warfare

Category : Stocks, World News

OTTAWA, ONTARIO–(Marketwire – March 8, 2013) - More than 2000 Canadian Armed Forces (CAF) soldiers have and continue to participate in a series of winter warfare exercises in northern Canada during the months of February and March.

Read this article: Canadian Army Trains for Winter Warfare

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INVESTOR ALERT: Former Louisiana Attorney General and Kahn Swick & Foti, LLC, Remind Investors With Large Financial Interests of Lead Plaintiff Deadline in Class Action Lawsuit Against Affymax, Inc. – AFFY

Category : Stocks

NEW ORLEANS, LA–(Marketwire – Feb 28, 2013) – Kahn Swick & Foti, LLC (“KSF”) and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until April 29, 2013 to file lead plaintiff applications in a securities class action lawsuit against Affymax, Inc. (NASDAQ: AFFY), if they purchased the Company’s common stock during the period between December 8, 2011 and February 22, 2013, inclusive (the “Class Period”). This action is pending in the United States District Court for the Northern District of California.

Read the original here: INVESTOR ALERT: Former Louisiana Attorney General and Kahn Swick & Foti, LLC, Remind Investors With Large Financial Interests of Lead Plaintiff Deadline in Class Action Lawsuit Against Affymax, Inc. – AFFY

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Chesapeake sells oil assets at a ‘discount’

Category : Business

Chesapeake is selling half of its oil and gas assets in northern Oklahoma to Sinopec, one of China’s largest oil producers, for $1 billion. Some say the deal is too cheap.

More here: Chesapeake sells oil assets at a ‘discount’

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California Winegrape Crop Tops 4 Million Tons for 2012

Category : Stocks, World News

Crop up 20% From 2011

North Coast up 47%, Central Coast up 41%, Northern Interior up 33% and Southern Interior up 4%

Visit link: California Winegrape Crop Tops 4 Million Tons for 2012

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Irish hostage’s family ‘over the moon’ at his release in Algeria

Category : Business

Son of Belfast electrician Stephen McFaul says he will never let father return to Algeria after he was held captive by militants

The family of an Irishman held captive by militants at a gas facility in Algeria have spoken of their joy after he was freed on Thursday, with his teenage son saying he would give him a “big hug” and not let go.

Stephen McFaul, 36, from west Belfast, contacted his wife, Angela, at about 3pm to confirm he was no longer being held captive, Donna McBride, his sister, said.

“We are absolutely delighted that he is free and is unharmed,” she said, adding that her brother was currently being debriefed by officials in Algeria.

His 13-year-old son Dylan said: “I feel over the moon, just really excited. I just can’t wait for him to get home. I just can’t wait, I’ll never let him go back there.”

Asked on Northern Irish television channel UTV what was the first thing he would do when his father got home, Dylan replied: “Give him a big hug and I won’t let go.”

McFaul, who has two children, works as a supervising electrician at the natural gas pumping station stormed by Islamist gunmen on Wednesday. When McFaul realised the raid was taking place he hid in the living quarters of the facility, staying in touch with his brother Brian by mobile phone and text. After the gunmen found him, he was allowed to make a final call to his family.

His family then had an increasingly tense wait for his family, who received conflicting news reports but no clear idea of whether he was alive. Only when he called home on Thursday afternoon were they able to relax.

McBride said: “He’s a very kind person. He would do a lot for anybody, he would do anything for anyone. I can imagine out there he has probably done everything in his power to make sure everybody is safe. It is just a pity that some people have lost their lives.”

McFaul’s father, Christopher, told UTV it had been “a tough 48 hours but we’ve come through it. We’re a strong family. It’s been hard – I’ve tried to put a brave face on it.”

He said his son was easygoing, happy go lucky and took everything in his stride. He added that he felt sorry for the other hostages and their families.

His wife, Marie, said she was “delighted, thrilled to bits” that their son was safe. “We’re very happy – over the moon.”

Ireland’s taoiseach, Enda Kenny, said he was relieved to hear McFaul was safe and well.

“I believe he has already spoken to his family in Belfast and I wish him a safe return home to his loved ones,” he said. “I would like to pay tribute to all those who have been involved in the effort to resolve this crisis and my thoughts are with the other oilfield workers and their families who have found themselves at the centre of this traumatic situation.”

McFaul is a former pupil of De La Salle College in west Belfast where Dylan is a year-nine pupil.

Acting principal, Fiona Kane, acting principal, said: “We were very concerned and we were rallying round to support the family; that is very much part of our ethos. Dylan was in this morning to tell his form teacher and he’ll be back in school on Monday. I think the family are taking tomorrow to celebrate.”

UK assumes presidency of G8 group

Category : World News

The UK has begun its year-long presidency of the G8 group of nations, which will include hosting a summit in Northern Ireland.

Read more: UK assumes presidency of G8 group

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