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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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Nordic American Tankers Limited (NYSE: NAT) – Telephone Conference for Shareholders, Investors and Analysts

Category : World News

HAMILTON, BERMUDA–(Marketwired – May 14, 2013) – Nordic American Tankers Ltd. (NYSE: NAT) will host a telephone conference Wednesday June 12 at 09:00 am U.S. Eastern time. The solid strategic position of NAT is among the important items that will be reviewed.

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Motorola ‘abused patent position’

Category : Business

Motorola “abused its position” when it filed a patent injunction against Apple in Germany, EU officials say.

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Danone (DANOY: OTCQX International Premier) | Home Country News Release – Danone signs partnership agreement with Sirma and strengthens its position in the water market in Turkey

Category : World News

Danone has filed a Home Country News Release – Danone signs partnership agreement with Sirma and strengthens its position in the water market in Turkey To view the full release click here (link to PDF).

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Darling urges spending caution

Category : World News

Former Chancellor Alistair Darling urges Labour not to commit to future spending plans until it knows the government’s own position.

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Cresval Provides Update on Civil Claim

Category : World News

VANCOUVER, BRITISH COLUMBIA–(Marketwired – April 5, 2013) - Cresval Capital Corp. (TSX VENTURE:CRV) (“Cresval”, or the “Company”) announces that further to the Company’s news release dated February 15, 2013, in which it disclosed that it had been served with a Notice of Civil Claim (the “Claim”) alleging monies were owed to Vancouver Island Exploration Inc. (“VIE”), a drilling contractor, of $143,913 for diamond drilling conducted in 2011, the Company wishes to clarify its position with respect to the Claim. The Company replies that VIE overcharged the Company for its services and failed to fulfill the obligations of its contract. The Company has filed a counterclaim against VIE to recover amounts billed by VIE that were not proper charges or were expenses paid by Cresval as a result of VIE’s failure to fulfill its contract.

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Co-op Group’s £600m loss casts doubt on deal to take over Lloyds branches

Category : Business

Banking arm to blame for Co-op pain as it delivers writedown and sets aside cash to compensate customers for mis-sold PPI

The Co-operative Group has been dragged to a £600m loss by its banking arm, casting fresh doubt on the grocer and funeral operator’s ability to take over 632 branches being sold by Lloyds Banking Group.

The £662m of losses in the banking arm were caused by setting aside £150m to cover claims for mis-sold payment protection insurance, together with a £150m writedown of IT systems and £377m of bad loan losses, largely from its Britannia building society business.

“The bank is not immune to the terrible problems impacting the financial services sector,” chief executive Peter Marks said. The Co-op’s total provision for PPI mis-selling – which for the industry has reached more than £12bn – is £244m.

Presenting his last set of results after 40 years with Britain ‘s largest mutual, Marks described 2012 as a “challenging year” but insisted that progress was being made on the Lloyds deal, which would triple the Co-op’s branch network and transform the group into a major competitor to the big four banks.

He insisted that the Financial Services Authority had not expressed any concerns about the deal or about the capital position of its banking arm.

Even so, he has put the Co-op’s insurance arm up for sale after finally agreeing this week to sell its life assurance and savings business to Royal London.

“These moves are in line with our strategy of focusing on our banking activities and will also strengthen our capital position,” Marks said.

He blamed the economic backdrop for the poor performance of the bank, which reported a profit of £138m a year ago, and stressed that the bank’s core tier-one capital ratio – closely watched by regulators as a measure of financial strength – had increased to 9.2% from 8.8% at the end of last year and was above the regulatory minimum.

Marks was unable to give specific reasons why the sale of the Lloyds branches – known as Verde and being forced upon Lloyds by the EU as a condition of its £20bn bailout – was not finalised eight months after it was announced in July.

“We’re trying to conclude this transaction in very difficult economic times. That’s what makes it more difficult. We’re trying to establish what the risks are and to mitigate those risks,” Marks said.

Marks will be replaced by Euan Sutherland, previously boss of DIY chain B&Q, in May.

Marks’ career with the Co-operative movement began in 1967 when he started as a shelf stacker. He said he preferred to focus on operating profits, which were £54m, down from £526m a year ago.

In the grocery business, there was a 0.7% fall in like-for-like food sales and a fall in operating profit from £318m to £288m.

The specialist businesses of pharmacies, legal services and funeral homes reported a rise in operating profit to £107m from £99m, largely driven by a better performance in the funeral business.

The full-year dividend, which goes to members, is not announced until June, but the interim payment of £104m, declared in November, was down from £142m.

Banks analyst Gary Greenwood at Shore Capital described the results of the banking arm as “very grim reading”.

“The absolute capital position appears weak to us and, alongside weak profitability, will no doubt raise questions as to the ability of the Co-op to complete an acquisition of project Verde from Lloyds.

“This may not be such a bad outcome for Lloyds, in our view, given the rally in bank share prices since the deal was originally announced last year on what appeared to us to be terms that were very penal to Lloyds.”

Why the London Cycling Campaign designed a bike-friendly lorry

Category : Business

A lower driving position and bigger windows could help curb the number of serious cyclist accidents involving construction lorries.

The London Cycling Campaign has designed a new Safer Urban Lorry, and is calling on the construction industry to adopt it to make our towns and cities safer for walking and cycling.

Compared with current construction lorries, our design has a much lower seating position, lower ground clearance, and larger windows at the front and side. Crucially, the driver can now see what’s happening immediately around the vehicle, significantly reducing the risk of killing cyclists and pedestrians.

At present, half the cycling fatalities in Greater London involve lorries, and about three-quarters of those vehicles are from the construction industry. A large proportion of pedestrian fatalities also involve lorries. Tellingly, the most frequent response from lorry drivers after a fatal collision is to say they didn’t see the victim in the moments leading up to the crash.

We’ve taken care to design our Safer Urban Lorry using existing technology, with features that are already found on many refuse trucks. Modern bin lorries are designed to minimise the risk of running over refuse collectors working close to the vehicle (as well as protecting anyone walking or cycling nearby).

Already a common sight in town and city streets, these vehicles have the same low driving position and high-visibility cab seen on our Safer Urban Lorry. All we’ve done is to marry this type of cab with a lower chassis from a construction lorry.

Worryingly, current construction lorry design prioritises off-road convenience and site cost saving over cycling safety. A high clearance means, in the event of a collision, cyclists are often dragged under the wheels instead of being pushed clear. The high driving position encourages the driver to go faster and closer to other traffic; it doesn’t reduce danger.

We’re confident our Safer Urban Lorry features could be adopted without significant risk to the driver or the lorry. New lorries don’t need such a high ground clearance because site roads are becoming better graded for all vehicles, while low-entry cabs reduce falls and injuries to drivers and also encourage more cautious driving.

Indeed, there are no reasonable impediments to the construction industry adopting, over time, our Safer Urban Lorry design. Too many people – often very experienced and responsible cyclists – have already lost their lives because they were run over by lorry drivers who didn’t see what was happening right next to their vehicle. Drivers should not be put in a position where they have restricted vision.

There’s clear evidence is that current construction lorries pose an unacceptable risk when driving urban areas. Only when the construction industry accepts its responsibilities can we expect fewer crashes, and look forward to safer and more inviting streets for everyone.

Safer Urban Lorry features

1. Lower driving position
The seating position in our lorry is approximately 60cm lower than in a conventional construction lorry, which provides the driver with a much improved view of what’s happening around the vehicle, significantly reducing risk to anyone in the immediate area. Inside a traditionally designed lorry a cyclist in a normal riding position is invisible, yet the driver of our Safer Urban Lorry can see them clearly.

2. High-visibility windows
The windscreen and side windows are much larger in our design than those found in today’s construction lorries, which means enhanced visibility to the front and the side, The area to the front-left of the lorry, where the vast majority of lorry-cyclist collisions occur, is clearly visible.

3. Lower bumper clearance
Reducing clearance between the underside of the lorry and the ground helps lower the height of the cab and the seating position. It also increases the chance of a cyclist being pushed to the side in the event of a collision, rather than being dragged underneath the wheels.

4. Sideguards
Sideguards work in the same way as the lower bumper, increasing the likelihood of a cyclist being knocked away from the lorry in the event of a collision, rather than being dragged under its rear wheels.

5. Early-warning cameras
The best of today’s camera systems provide a 360-degree view around the lorry, ensuring the driver is aware of pedestrians and cyclists at the sides and rear of the lorry, even if they’re not directly visible.

Charlie Lloyd, campaigns officer at the London Cycling Campaign, is an expert on the transport and haulage industries, as well as being a former lorry driver. Mike Cavenett is the LCC’s communications manager.

Nimble Appoints Eric Quanstrom as CMO/VP, Marketing & Sales to Drive Expansion

Category : World News

Social Relationship Management Startup Nimble Expands Management Team to Build on Leadership Position, Scale Foundation of Success

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Conservatives seek eleventh-hour press regulation deal

Category : Business

Newspaper groups including owners of Sun and Mail threaten boycott of regulator if plan proposed by Labour agreed to

Britain’s main political leaders are taking talks on the future of press regulation down to the wire amid signs that David Cameron is prepared to reach a last-minute deal to avoid a damaging defeat in the House of Commons on Monday.

As George Osborne insisted that the government was not “grandstanding” over the issue of press reform, the prime minister appeared to change tack by reopening talks with Nick Clegg, the deputy prime minister, days after abandoning all-party negotiations.

The renewed political discussions came as three of Britain’s largest newspaper groups, including the owners of the Sun and the Daily Mail, ramped up the pressure by signalling that they were prepared to boycott the proposed press watchdog and set up their own body if Labour and the Lib Dems succeed in creating a statutory underpinning of the new royal charter.

The deputy prime minister found himself effectively acting as a go-between between the prime minster and Ed Miliband . Clegg spoke to the Labour leader on three occasions during the day – twice before meeting the prime minister and once afterwards.

The reopening of limited all-party talks came amid signs that Cameron is heading for a defeat in the Commons over tabled amendments to the crime and courts bill to establish exemplary damages for media organisations that do not sign up to a new regulatory body. Labour and the Lib Dems, who have 314 MPs to the Tories’ 304 MPs, are planning to table their own amendments to strengthen the planned royal charter establishing the new body.

The Tories and Labour played hardball in what appeared to be something of an operation to paper over changes on all sides. Maria Miller, the culture secretary, was despatched on to the airwaves to say Labour had climbed down.

“Labour has been trying to push through a tough form of statutory regulation for the press with really unacceptable consequences for freedom of speech in this country,” Miller told Sky News. “I think their climbdown from that position has put them much closer to our position and I think that is to be welcomed.”

Labour dismissed Miller’s remarks and insisted that it was standing by its core demands – statutory underpinning of the royal charter, a guarantee of prominent apologies by errant newspapers and no press veto on members of the new regulatory body.

A senior Labour source said: “We are in lock-step with the Lib Dems on this. We are clear we are not going to accept [Cameron's] royal charter. Any agreement must be on the basis of our royal charter. We are planning to go ahead with the votes in the Commons.”

There was silence in Whitehall as the government parties prepared for another round of talks in the runup to the votes in the Commons.

The Tories claim that talks between the party leaders broke down last week when Labour sought to strengthen the royal charter on the basis of last-minute proposals by the Hacked Off campaign group. This prompted the prime minister to call for a Commons vote on his proposals.

One observer said: “It is like a game of poker. On Tuesday, the prime minister called their bluff. Then, at the weekend, when they published their royal charter and seemed to revert to their earlier position, they folded their hand.”

This was dismissed by Labour which said the prime minister appeared to be changing his position. The chancellor indicated that Downing Street may be adopting a more flexible approach when he said he was still hopeful of an all-party agreement.

Osborne told the Andrew Marr Show on BBC1: “It would be great on Monday if we can get some kind of agreement, even at this late stage, between the parties. Frankly, press regulation that is achieved in a way that divides the political parties is not a press regulation that is really going to last and it is not a press regulation which is deeply rooted in our culture.

“I would say there is still an opportunity for us to get together and get a press regulation that works.

Ultimately we are not about grandstanding on this. We are about getting a press law that works and protects the press and gives justice to victims of press abuse.”

It is understood that the prime minister may be able to live with a statutory underpinning of the royal charter – one of the key Lib Dem and Labour demands. The legal underpinning is designed to ensure that the royal charter can only be changed by agreement of two thirds of MPs, and not simply, like other royal charters, by ministers.

Cameron believes such underpinning is not necessary but is willing to be flexible because he has seen off what Osborne described as “some all-singing, all-dancing Leveson law”.

But there are still differences over the composition of the regulatory body and on how apologies would be carried.

The prime minister is understood to share the concerns of many in the press that leading lights in the Hacked Off group, such as Brian Cathcart, could find themselves on the new body.

Downing Street said it was unable to answer the latest of several requests from the Guardian to reveal how many meetings the prime minister has had with editors, publishers or representatives of the press.

Great Western Minerals Group Ltd. (GWMGF: OTC Link) | Great Western Minerals Group announces Steenkampsteenkkraal rare earth project management changes

Category : World News

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Great Western Minerals Group announces Steenkampsteenkkraal rare earth project management changes

PR Newswire

SASKATOON, March 5, 2013

TSX Venture Symbol: GWG

CUSIP: 39141Y 10 3

OTCQX: GWMGF

SASKATOON, March 5, 2013 /PRNewswire/ – Great Western Minerals Group Ltd.
(“GWMG” or the “Company”, TSX:V – GWG) is pleased to announce the
promotion of Vic Fitzmaurice to the position of Steenkampskraal
Managing Director with GWMG’s wholly owned subsidiary, Rare Earth
Extraction Co. Limited (“Rareco”) of South Africa.

Mr. Fitzmaurice’s responsibilities include the refurbishment of the
Steenkampskraal mine site as well as the development of mixed chloride
production and rare earth solvent extraction separation capabilities.
He reports directly to GWMG President and Chief Executive Officer Marc
LeVier
.

In his position as Managing Director he also assumes the leadership role
with GWMG’s owner’s representative team that is being assembled to deal
with all major contractors. Mr. Fitzmaurice is using his extensive
contact base and strong reputation within the South African mining
industry to assemble a highly qualified owner’s representative team
that thoroughly understands the Steenkampskraal project as well as the
regulatory and social impact environments.

Mr. Fitzmaurice, who has held the position of Steenkampskraal Operations
General Manager since October 2012, is a Professional Engineer who
holds a B.Sc. in Engineering (Mining) along with a Graduate Diploma in
Engineering (Mining, Engineering and Mineral Economics) from the
University of Witwatersrand. He is a member of the Engineering Council
of South Africa, the South African Institute of Mining and Metallurgy,
the Institute of Directors of South Africa and the Association of Mine
Managers of South Africa. His significant experience in senior mining
positions throughout Africa, Europe and Asia has been with companies
that include Aquarius Platinum and De Beers.

GWMG is also pleased to announce the appointment of Chris Neser to the
position of Senior Project Manager with Rareco. Mr. Neser has extensive
international experience with the development of integrated mineral
beneficiation projects. His previous project work includes automation
of metallurgical plants, process selection, optimization, construction,
process commissioning, and production cost modelling and control.

Mr. Neser holds a Masters in Business Leadership from University of
South Africa and a B.Sc. in Electrical Engineering from the University
of Cape Town. His international experience includes the Sunkar
phosphate project in Kazakhstan, Jordan Phosphate Mines, Maaden in
Saudi Arabia and the Foskor Group of South Africa. He reports directly
to Managing Director Vic Fitzmaurice.

GWMG President and Chief Executive Officer Marc LeVier said, “The
promotion of Mr. Fitzmaurice and the appointment of Mr. Neser to the
Rareco team are significant steps forward for our Company because both
individuals have very extensive mining and mine development experience.
They will be integral to the success of our Company in advancing the
Steenkampskraal project on a timely and cost effective basis.”

Additionally, GWMG today announces the resignation of David Kennedy from
the position of Chief Executive Officer of Rareco. He will continue his
involvement with GWMG as a member of the Company’s board of directors
and an advisor to CEO Marc LeVier

GWMG President and Chief Executive Officer Marc LeVier said, “We
sincerely thank Mr. Kennedy for his years of service, first at Less
Common Metals and subsequently with the Steenkampskraal project. His
extensive background in the rare earth business has been important to
our strategy of positioning GWMG to become a fully integrated rare
earth producer. Mr. Kennedy’s contribution through the development of a
highly skilled team at Less Common Metals is greatly appreciated. We
are pleased that he will continue his involvement with GWMG as a member
of the Company’s board of directors and an advisor to the CEO.”

Great Western Minerals Group Ltd. is engaged in becoming an integrated
rare earth producer. Its specialty alloys are used in the battery,
magnet and aerospace industries. Produced at the Company’s wholly owned
subsidiaries Less Common Metals Limited in Ellesmere Port, U.K. and
Great Western Technologies Inc. in Troy, Michigan, these alloys contain
transition metals including nickel, cobalt, iron and rare earth
elements. As part of the Company’s vertical integration strategy, GWMG
also holds 100% equity ownership in Rare Earth Extraction Co. Limited,
which controls the Steenkampskraal Monazite Mine. In addition to an
exploration program at Steenkampskraal, GWMG also holds interests in
four rare earth exploration and development properties in North
America
.

Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
accepts responsibility for the adequacy or accuracy of this release.

Certain information set out in this News Release constitutes
forward-looking information.

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