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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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New Baking Trend "Pushes" Pops of Color Onto the Scene

Category : Stocks

MISSION, KS–(Marketwired – May 2, 2013) – (Family Features) Welcome the arrival of warm weather with sunny colors, vibrant flavors and the newest baking trend — cake push pops. These treats add a dash of family-friendly fun for gatherings, graduations and birthday parties. 

Read more: New Baking Trend "Pushes" Pops of Color Onto the Scene

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HSBC launches first sub-2.5% five-year fixed mortgage

Category : Business

Loan follows Yorkshire’s 10-year mortgage and comes as part of wider push by lenders towards lower-rate, longer-term deals

A five-year fixed-rate mortgage with an interest rate of under 2.5% is available for the first time ever as rates on new home loans continue to tumble.

HSBC has launched a five-year home loan with an interest rate of 2.49% for homeowners with a 40% deposit or for those with the equivalent equity in their property for a remortgage. The loan comes with a £1,999 fee and can only be taken out directly from the bank, not through brokers. Early repayment charges start at 5% in the first year and fall by one percentage point each year. The deal will be available from Monday.

It is part of a wider push by lenders towards lower-rate, longer-term mortgage deals. On Friday, the Yorkshire building society launched a 10-year fixed-rate loan at 3.99% with just a £130 fee to pay. Earlier in the week data provider Moneyfacts said the number of five-year fixed-rate mortgages launched in the past year has increased by 73%. By comparison, the traditionally popular two-year fix has only increased by 33%.

Interest rates on the five-year loans have also tumbled, so that the rate difference between the average two-year and five-year fixed rates, on a 75% loan to value mortgage, is just 0.04%.

“Borrowers have become far more interested in five-year fixes this year as they really seem to be the value buy in the market at present,” said Andrew Montlake of mortgage brokers Coreco. “This reduction by HSBC below 2.5% creates another milestone – and although I believed we would see rates this low some time this year, it has occurred a lot quicker than many envisioned.”

The HSBC deal may not be the best bet for everybody looking for a five-year fixed rate. Although it comes with a low rate, some borrowers with small mortgages may be better off over the term of the mortgage with a higher rate and lower fee. After HSBC, the lowest five-year fix on rate is Yorkshire building society at 2.59% at 60% LTV. This comes with a £1,475 fee. Norwich & Peterborough building society has a five-year fix at 2.74% at 60% LTV with a much lower fee of

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Primark boosts profits at AB Foods

Category : World News

Clothing retailer Primark’s “exceptionally strong” performance helps to push profits higher at owner Associated British Foods.

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New Xstrata-Glencore merger delay

Category : Business, World News

Xstrata and Glencore once again push back the date for when they expect to complete their merger, after Chinese concerns.

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Obama to use Miami speech to press for public works jobs – live blog

Category : Business

President in Florida to give speech on economy and to push for tax incentives for public investment. Follow it live here

See the original post here: Obama to use Miami speech to press for public works jobs – live blog

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Kuroda confirmed as BOJ governor

Category : World News

Japan’s parliament approves as governor of the Bank of Japan Haruhiko Kuroda, who is expected to push for monetary stimulus to boost growth in the world’s third-largest economy.

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Germany’s Overhaul of Its Power System May Put It at the Vanguard of a Nascent Global Transformation

Category : Stocks, World News

The Country’s Aggressive Push Toward Renewable-Energy Sources, Distributed Generation, and Increased Energy Efficiency Bears Scrutiny, says The Boston Consulting Group

More here: Germany’s Overhaul of Its Power System May Put It at the Vanguard of a Nascent Global Transformation

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Dow: Less than 200 points from all-time high

Category : Stocks

While the Dow’s move up for the day was modest, it was enough to push the blue-chip index to a fresh 5-year high, and within spitting distance of its all-time high.

See the article here: Dow: Less than 200 points from all-time high

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S&P, Nasdaq log sixth straight weekly gain

Category : Business

Decent earnings continued to push stocks higher Friday as the market rally rolls on.

More here: S&P, Nasdaq log sixth straight weekly gain

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Xstrata-Glencore merger delayed

Category : World News

Xstrata and Glencore push back the date again for when they expect to complete their $31bn merger to March.

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