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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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VIDEO: Cyprus banks prepare to reopen

Category : World News

Banks in Cyprus are to reopen amid tight security on Thursday, 10 days after they closed to prevent a bank run as a controversial bailout was negotiated.

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Deal reached in Cyprus bailout talks

Category : World News

A key meeting of eurozone finance ministers produces a deal on a crucial bailout for Cyprus to prevent its banking system collapsing.

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Deal reached in Cyprus bailout talks

Category : World News

A key meeting of eurozone finance ministers produces a deal on a crucial bailout for Cyprus to prevent its banking system collapsing.

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Game sales ‘dip’ despite launches

Category : Business

The release of the Nintendo Wii U, Halo 4 and Black Ops 2 were not enough to prevent an annual drop in US video game sales, according to research.

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What next for UBS after trader conviction?

Category : Business

Swiss bank UBS is under scrutiny over whether it did enough to prevent unauthorised trading after one of its former traders was jailed for fraud.

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Citi unit fined over Facebook disclosures

Category : Business

Massachusetts regulators on Friday fined a Citigroup unit $2 million for failing to prevent analysts from illegally leaking confidential information about Facebook’s initial public offering.

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UK economy is growing at last, says Ernst & Young

Category : Business

Forecast based on upturn in spending will not be enough to prevent a 0.2% fall in GDP for 2012 as a whole

Britain will return to growth in the second half of the year thanks to a rise in consumer spending and a revival of high street sales, according to Ernst & Young (E&Y).

But the latest forecast from the E&Y Item Club shows this will not be enough to prevent a 0.2% fall in GDP for 2012 as a whole, nor will it prevent the chancellor, George Osborne, from missing the £95bn deficit target for the year by £8bn.

Disappointing trade figures due to the eurozone crisis and weaker demand in the US, India and China stifled growth in the first half of the year, said Item. But falling inflation and rising employment have resulted in consumer demand bouncing back more strongly than expected, taking up some of the slack. These trends will gather pace next year, helped by a revival in the housing market, with GDP expected to grow 1.2% in 2013 and 2.4% in 2014.

But Item Club chief economic adviser Peter Spencer said: “Consumers may be propping up a weak recovery this year but the move towards more balanced growth over the medium term hangs critically upon a recovery in world markets.

“However, even if the US negotiates the impending fiscal cliff [tax rises and spending cuts] and European policymakers actually do what it takes to save the single currency, these markets will still be held back by austerity and retrenchment.

“A lot still hangs in the balance and risk dominates the outlook.”

He said public spending figures had been hit by “a pincer movement” of higher spending and lower tax receipts, leading to the country missing the deficit forecast from the Office for Budget Responsibility (OBR).

Spencer said: “We think this is largely cyclical but the OBR may view this deterioration as structural and suggest that further policy tightening is necessary after the election if the chancellor is to meet his fiscal targets.”

Meanwhile, a survey from Lloyds TSB gave a different view of consumer spending, at least for last month. Following a rise in August, spending power fell by 0.9% in September, giving people about £100 less to spend on non-essential items than a year ago.

Lloyds said the volatility “may in part be attributable to the mixed weather conditions and events over the summer months – such as the Queen’s diamond jubilee and the London 2012 Olympic Games – influencing consumer behaviour patterns and is reflective of other economic data over this period displaying similar variance.”

US court to rule on MP3 resales

Category : World News

EMI goes to court to prevent a US online service buying and reselling digital music tracks – in a case which may set a legal precedent.

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Oracle pays $2m in SEC settlement

Category : Business, World News

Oracle Software agrees to pay $2m to settle federal civil charges of failing to prevent secret payments in its Indian sales operation.

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Companies have reportedly seen a "flood of resumes" from Zynga (ZNGA) developers looking to leave. Meanwhile, those inside the company describe morale as "grim" and "anxious." An anonymous Zynga employee recently…

Category : World News

Companies have reportedly seen a “flood of resumes” from Zynga (ZNGA) developers looking to leave. Meanwhile, those inside the company describe morale as “grim” and “anxious.” An anonymous Zynga employee recently described a culture of long workweeks, broken promises, office politics, and no innovation. With employee discontent predating Zynga’s IPO, equity grants might not be enough to prevent a huge brain drain in the face of a crashing stock price. 4 comments!

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