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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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Firms to get army reservist cash

Category : Business, World News

Small firms are to get cash incentives to release staff for service in the military reserves, says defence secretary Philip Hammond.

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AltiGen Communications, Inc. (ATGN: OTCQX U.S.) | AltiGen Communications, Inc. to Announce Second Quarter Fiscal Year 2013 Results

Category : Stocks

AltiGen Communications, Inc.

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VIDEO: Your Money: Pay day loans and older workers

Category : Business, World News

This week on Your Money, Philip Hampsheir looks at negative equity in the housing market, the crack down on pay day lenders, and how working past retirement can affect people’s pensions.

More: VIDEO: Your Money: Pay day loans and older workers

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AltiGen Communications, Inc. (ATGN: OTC Link) | AltiGen Communications, Inc. to Announce First Quarter Fiscal Year 2013 Results

Category : Stocks

SAN JOSE, CA–February 4, 2013 – AltiGen Communications, Inc. (OTCQX: ATGN), the leading provider of integrated Microsoft-based Unified Communications solutions, will announce its first quarter fiscal year 2013 financial results after the close of regular market trading on Wednesday, February 6, 2013. The Company will also hold a conference call to discuss the results at 2:00 p.m. Pacific Time (5:00 p.m. ET).

What: AltiGen First Quarter Fiscal Year 2013 Conference Call

When: Wednesday, February 6, 2013 at 2:00 p.m. Pacific Time (5:00 p.m. ET)

Who: Jeremiah Fleming, Chief Executive Officer and President, and Philip McDermott, Chief Financial Officer

How: Dial (877) 407-8031 (domestic) or (201) 689-8031 (international) to listen in to the call. A live webcast will also be made available at A telephonic replay will be available approximately one hour after the call through March 5, 2013. To access the replay, dial (877) 660-6853 (domestic) or (201) 612-7415 (international), account #286 conference ID #408379.

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Supermarkets ready to talk turkey after Christmas

Category : Business

On the menu this week: post-festive results presentations from the big four

So you’ve poisoned the family with an underdone turkey, split your trousers after gorging on a whole tin of Quality Street and chucked the tree over the fence into your neighbour’s garden. But please don’t think you’ve seen the back of Christmas 2012 yet. This week three wise men will trot out to face the City as the retail reporting season kicks off with a trio of Yuletide updates from the listed supermarkets Morrisons, Sainsbury’s and Tesco.

The season, it would appear, was not terribly jolly for Morrisons boss Dalton Philips, as it seems that no-frills rivals ate his lunch. Like-for-like sales are expected to be down 2.5% over the key six-week period and last week Jefferies, which as one of Morrisons’ own brokers is supposed to be on the supermarket’s side, prepared investors for a sizeable disappointment with a note promising the grocer would kick off the season “in a weak manner”.

That’s a Christmas gift for Sainsbury’s self-effacing boss Justin King, who should get an easier ride on Wednesday when he’ll unveil growth of about 0.9%. Still, the number three chain is expected to be trumped by Tesco boss Philip Clarke, who, analysts reckon, will banish the ghosts of Christmas past by pulling 1% out of his sack on Thursday. That will be nice for him: last year, he saw in the new year with Tesco’s first profit warning in nearly 20 years.

Bollard reviews M&S’s Christmas dramas

Tonight we’ll all be treated to a new television drama promising to tell the story of man with a mission to “make shopping as thrilling as sex”. But before Marks & Spencer boss Marc Bolland gets overly excited, this is not a biopic about the dapper Dutchman. ITV’s new show is about Mr (Harry) Selfridge, the flamboyant founder of the London department store.

Anyway, Bolland may already have enough drama in his life. The City is starting to find the performance of the M&S boss as irritating as one of his beloved cliches and he needs to show at this week’s third-quarter results that this Christmas he kept the wolf from the door (as he might put it).

Last year, guerrilla discounting by rivals cost M&S dear, forcing it to retaliate with price cuts that hit margins. This time may prove different, with major rivals John Lewis and Next both suggesting that there was less discounting on the wrong side of Christmas. Still, the consensus is for like-for-likes in M&S’s clothing and homewares to be down 1.5%, offset partially by growth of 0.5% in food, and Nomura has shaved £28m off this year’s profit forecast. Like the end of a mini-series, expect the odd cliffhanger.

Housebuilders bullish – will they raise the roof?

If you didn’t have a house before the credit crunch, it has proved pretty tricky to find the funds to buy one since. But as many struggle to get a foot on the first rung of Britain’s favourite dinner party conversation, shares in the housebuilders themselves don’t seem to be having any trouble finding first-time buyers.

The seven builders in the FTSE 250 – Barratt, Bellway, Berkeley, Bovis, Persimmon, Redrow and Taylor Wimpey – all outperformed their index last year (despite last week’s news of a steep reduction in housebuilding). Just like buying bricks and mortar, there are plenty of experts to tell you a punt on the shares is safer than houses.

They certainly tend to have a good three months at the start of each year: in only five of the past 33 years has the sector failed to deliver positive first-quarter returns for shareholders. Added to that, the Bank of England now reckons its Funding for Lending scheme is starting to increase the availability of mortgages, so facts now support the bullish share tips.

We’ll get some clues as to whether the optimists are right this week, as Persimmon and Bellway report (with Barratt, Bovis and Taylor Wimpey the week after). Still, as home buyers have occasionally been shocked to discover, prices don’t always rise.

VIDEO: Is now a good time to remortgage?

Category : Business, World News

There is a price war going on in the world of mortgages with some lenders dropping their rates by as much as a third. Philip Hampsheir has been finding out whether now is a good time to remortgage.

Read more here: VIDEO: Is now a good time to remortgage?

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Philip Green sells Topshop stake

Category : World News

Retail boss Sir Philip Green sells a 25% stake in his Topshop and Topman chain, in a deal that values the business at £2bn.

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Hammond set to discuss BAE merger

Category : World News

Defence Secretary Philip Hammond will discuss the proposed merger between BAE and EADS with his French and German counterparts at a Nato meeting in Brussels later.

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MoD to axe one in four senior military and civil staff

Category : Business

Philip Hammond unveils cost-cutting plan in bid to show all ranks are making savings

One in four senior military and civilian staff at the Ministry of Defence are to be axed over the next two years, the defence secretary, Philip Hammond, has said.

A new senior structure for the ministry will be introduced next year in an attempt to show that all ranks of the services are making savings, and the cuts are not falling disproportionately on serving lower ranks.

“At a time when we are making difficult decisions about defence spending and have had to accept reductions across the board, we cannot ignore the volume of posts at the top,” said Hammond. “For too long the MoD has been top heavy, with too many senior civilians and military.”

In July, Hammond announced that 17 units were to be axed from the British army as part of sweeping reforms that will reduce its overall strength by 20,000. There would be at least two tranches of redundancies next year and in 2014.

By April 2013, 26 civilian and military posts at the rank of Commodore, Brigadier, Air Commodore or above are expected to have been phased out, saving an estimated £3.8m a year. Following the change, the slimmed-down head office is expected to focus on strategic direction, and frontline commanders will start to take responsiblity for their own budgets.

The changes were recommended in a report in 2011 by Lord Levene, the former chairman of Lloyds of London. The 84-page report also recommended a joint forces command to break down rivalries and barriers between the army, air force and Royal Navy, and that senior military should lose their jobs if over-spending got out of control.

Hard to blame European firms for being upset about this: WSJ reports U.S. trade with Iran is increasing despite sanctions, while EU trade with Iran is falling. Coke, Oral-B mouthwash and Philip Morris cigarettes are but three examples of U.S….

Category : Stocks, World News

Hard to blame European firms for being upset about this: WSJ reports U.S. trade with Iran is increasing despite sanctions, while EU trade with Iran is falling. Coke, Oral-B mouthwash and Philip Morris cigarettes are but three examples of U.S. products still readily available in Tehran. Standard Chartered surely has some choice words for the discrepancy. 18 comments!

More: Hard to blame European firms for being upset about this: WSJ reports U.S. trade with Iran is increasing despite sanctions, while EU trade with Iran is falling. Coke, Oral-B mouthwash and Philip Morris cigarettes are but three examples of U.S….

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