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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: Hobbies turned into businesses

Category : World News

BBC News went to a craft event to meet three people who have turned their hobbies into profitable businesses.

See the article here: VIDEO: Hobbies turned into businesses

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European bonus caps won’t see the light of day

Category : Business, Stocks

Proposed limits on banker bonuses would cause the slow death of what continues to be, despite over regulation and higher taxes, a very profitable industry for Europe.

Originally posted here: European bonus caps won’t see the light of day

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AUDIO: Centrica boss defends profits rise

Category : World News

The energy group, Centrica, has announced an increase in profits in the residential arm of British Gas. They rose 11% last year to £606m. In November British Gas increased customer bills by 6%. The chief executive of Centrica, Sam Laidlaw, said it was important the company remained profitable.

The rest is here: AUDIO: Centrica boss defends profits rise

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IMD Companies, Inc. (ICBU: OTC Link) | IMD Companies, Inc. (ICBU) announces improved financials in Q3

Category : Stocks, World News

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IMD Companies, Inc. (ICBU) announces improved financials in Q3

PR Newswire

TAMPA, Fla., Feb. 6, 2013

TAMPA, Fla., Feb. 6, 2013 /PRNewswire/ –

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Global Vision Holdings Subsidiary Mamma’s Best Launches New Look

Category : World News

IRVINE, CA–(Marketwire – Jan 28, 2013) – Mamma’s Best, a subsidiary of Global Vision Holdings Inc. (OTCQB: GVHIB) a diversified financial holding company focusing on investments in environmentally responsible, profitable and growing companies, has updated its look with new labels that give the brand a bolder, more modern feel that sets them apart and allows them to stand out amongst the competition.

More here: Global Vision Holdings Subsidiary Mamma’s Best Launches New Look

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WH Smith plans to open more stores after Christmas boost

Category : Business

Jamie Oliver and Miranda Hart book sales help retailer to report rise in profits over festive season

WH Smith is keeping faith in the high street after revealing a rise in profits over Christmas despite falling sales.

The retailer is planning to open about six more stores in the UK this year as better buying terms in the far east, less discounting after Christmas and a shift towards more profitable stationary products offset a 5% drop in underlying sales in the 20 weeks to January 20.

Strong sales of Christmas bestsellers, led by Jamie Oliver’s 15 Minute Meals and Miranda Hart’s autobiography, helped the company hold market share in books despite some heavy discounting in December which drove down book sales at the retailer by 6%. The company found £4m of savings at its high street stores, according to analysts.

“We were pleased with our performance in a tough environment,” said chief executive Kate Swann. “We are in a fortunate position that we know we have got a good balance sheet and are very cash generative so can keep growing.”

She said the company would continue to expand abroad and was looking at further acquisitions after making a success of Funky Pigeon, the online card store it bought three years ago.

City analysts moved up annual profits forecasts by an average £0.5m to £106m. At Swann’s last annual meeting with shareholders on Wednesday before her departure from the company in June, about 50 shareholders gave her a round of applause and thanked her for keeping the company alive through 10 years of tough times.

Darren Ager of Charles Stanley, said: “Who would have thought in 2003 that WH Smith could deliver these kind of returns. The reason is Kate’s attention to detail.” A clearly uncomfortable Swann responded: “Thanks, let’s move on.”

Swann said she did not think WH Smith would see much benefit from the closure of chains including Jessops, Blockbuster and HMV, as it no longer sold CDs and DVDs. The company is adding stores in locations, such as small market towns, where it does not have any outlets.

WH Smith will spend £5m this year on expanding Funky Pigeon, which experienced strong double-digit sales growth this Christmas. Swann said the company’s online business, including its main books and stationary site, would become profitable this year.

Shares slid 2p to 650p making it a disappointing day for those investors who had been betting against WH Smith.

The retailer has been the second most shorted stock on the FTSE for some time. Just over 18% of its shares are out on loan to investors who believe they can buy them back more cheaply later. The shares have risen 2% since the end of October when 11% of the stock was shorted.

Pace in talks to buy TV-box arm of MMI from Google in reverse takeover

Category : Business

British manufacturer Pace confirms it is in talks to buy set-top box division of Google’s Motorola Mobility in $2bn deal

The British manufacturer Pace has confirmed it is in talks to buy the set-top box division of Google’s Motorola Mobility (MMI) subsidiary in a reverse takeover that could be worth up to $2bn (£1.2bn).

The Bradford-based company is understood to be among the front-runners for the profitable part of the Motorola business, which sells set-top boxes and systems to cable TV firms in the US.

Other bidders are understood to include Arris Group, an internet access company based in Suwanee, Georgia, and Technicolor SA, a video technology business, as well as some private equity firms.

Google spent $12.5bn buying MMI in August, acquiring a loss-making mobile phone division and a profitable set-top box division. Google sought to sell the latter almost at once, while it has been cutting back extensively on staffing and locations for the mobile phone business.

For Pace, getting a firmer foothold and solid reach in the US would strengthen its business.

In a statement, Pace said: “Discussions with Google are currently at a preliminary stage and there is no certainty as to whether any agreement regarding any transaction will be reached.”

The “Home” division of MMI, which is up for sale, generated revenues of about $900m per quarter and profits of about $50m per quarter in the two years ahead of the Google acquisition, while the mobile phone division, which Google is keeping had revenues of about $2.4bn but consistently made losses of about $80m.

No deadline has been set for completing the acquisition, and Google may want to hold on to the patents owned by the set-top business in order to fend off lawsuits from other companies as it seeks to expand its own Google TV business.

There is also an ongoing lawsuit between MMI and TiVo, a set-top box maker that provides personalised TV recommendations.

Google’s prime reason for buying MMI was to gain access to its portfolio of thousands of mobile and wireless patents to protect its Android software from lawsuits – though none has yet proved decisive in any legal case.

Pace shares were suspended from trading because the acquisition would be a reverse takeover under UK rules.

After a 72% Y/Y rise in the [[XHB]], the housing recovery rates the cover at Barron’s. "We’re in the early stages," says Lennar (LEN) President Rick Beckwith. The industry could triple in size to 1.8M housing starts in the next 3-4 years,…

Category : World News

After a 72% Y/Y rise in the XHB, the housing recovery rates the cover at Barron’s. “We’re in the early stages,” says Lennar (LEN) President Rick Beckwith. The industry could triple in size to 1.8M housing starts in the next 3-4 years, says Ivy Zelman, who thinks Lennar could earn $5.30/share in FY15 vs. $0.48 last year. A more speculative play is Beazer (BZH), which isn’t yet profitable, but has eased short-term liquidity fears with recent capital raises. 12 comments!

Continued here: After a 72% Y/Y rise in the [[XHB]], the housing recovery rates the cover at Barron’s. "We’re in the early stages," says Lennar (LEN) President Rick Beckwith. The industry could triple in size to 1.8M housing starts in the next 3-4 years,…

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Lucky Lexmark. Stock surges nearly 20%

Category : Business

The company known for inkjet printers is completely exiting the business as part of a restructuring plan to focus on more profitable divisions.

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Bernanke weighing on bank profits

Category : Business, Stocks

Bank profits fell $800 million in the second quarter, despite a significant increase in lending. But low-interest rates mean that new loans are increasingly less profitable.

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