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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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Chesapeake stock sinks despite solid earnings

Category : Business, Stocks

The embattled natural gas company reported a profit. But skeptical investors are still not sure the turnaround is for real.

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Partners Real Estate Investment Trust (PTSRF: OTC Link) | Management Discussion and Analysis

Category : Stocks

Mon, Apr 22, 2013 06:35 – Partners Real Estate Investment Trust (PTSRF: OTC Link) released their Management Discussion and Analysis. To read the complete report, please visit: https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=102967.

See the article here: Partners Real Estate Investment Trust (PTSRF: OTC Link) | Management Discussion and Analysis

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Get Real USA, Inc. (GTRL: OTC Link) | Annual Report

Category : World News

Fri, Apr 19, 2013 07:35 – Get Real USA, Inc. (GTRL: OTC Link) released their Annual Report. To read the complete report, please visit: https://www.otciq.com/otciq/ajax/showFinancialReportById.pdf?id=102901.

Visit link: Get Real USA, Inc. (GTRL: OTC Link) | Annual Report

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Real Madrid ‘richer than Man Utd’

Category : Business, World News

Real Madrid overtakes Manchester United as the world’s most valuable football club, according to business magazine Forbes.

Read more: Real Madrid ‘richer than Man Utd’

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Create Budding Home Updates

Category : World News

MISSION, KS–(Marketwired – Apr 18, 2013) – (Family Features) Bring the garden inside to add a romantic and softer touch to your home décor. Though real flowers are always a gorgeous addition, they can be costly and, unfortunately, they will expire. Due to their permanent and authentic nature, more decorators are turning to their faux counterparts when glamming up interiors.

Read the original here: Create Budding Home Updates

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Bitcoin is not a real currency, just some 21st-century cowrie shells

Category : Business

The ‘cryptocurrency’ has more in common with gold than with fiat currencies which can provide extra liquidity

The rollercoaster ride of Bitcoin’s valuation has, after a couple of months of being pulled up the roller, hit the “coaster” part. Now is the time where the people on board have to decide if they’re going to scream and jump out – which a fair chunk of money seems to be doing just now – or grit their teeth and hold on to the sides. And while they try to decide, things are going to move faster and faster.

The crash – for that’s very much what it looks like, with a week’s gains lost in a matter of hours, and no sign of a bottom – has also exposed the fact that Bitcoin lacks many of the essential moving parts of a real modern currency that most of us don’t see, but which are essential for it to be useful for exchanging things.

On Tuesday morning, mindful that what was happening with Bitcoin was a classic bubble (where people hang on to a commodity because they expect the price to go up, and buyers buy because they expect the price to go up, and scarcity of supply keeps pushing the price up, until eventually someone triggers a tsunami of profit-taking), I asked Aditya Chakrabortty, the Guardian’s wonderful economics leader writer, whether we could predict when the bubble would burst.

Here’s what he said: “If economists could ever predict bubbles and busts, they’d be rather wealthier (and more useful) than they are. The most they do is point out when it looks bubbly (which it does, for the reasons you’ve pointed out and more) – and some are too cowardly even to do that. When does a crash happen? I go with the ‘greater fool’ theory laid out by the economic historian Charles Kindleberger (who wrote Manias, Panics and Crashes): an asset bubble can keep expanding for as long as you can find a bigger fool to sell an asset to.”

I think we know how long that was: until Wednesday afternoon UK time, when the price hit $266 and abruptly started falling – and falling. Money began flying out: sell trades of over 100 Bitcoins (that’s over $10,000) against a few paltry buys putting new money into the market. And as the new owners who had bought those 100 Bitcoins looked at their value, it dropped – the classic market move that panics the unwary buyer, who then looks to unload their red-hot investment before it burns a hole in their electronic wallet too.

Which is the first Bitcoin lesson: amateurs are terrible investors. They aren’t in it for the long term, they don’t know what they’re getting in to, and they’re easily moved by the herd mentality.

The second lesson is more subtle. Bitcoin has been preened by geeks keen to call it “the world’s first cryptocurrency”. Certainly, it’s cryptographic – you can’t counterfeit a Bitcoin, which is a fabulous fundamental property for a currency. But it’s not a currency, although it is a medium of exchange.

This is a point that is lost on many geeks. Cowrie shells were a 13th-century medium of exchange: they were a fairly effective currency at a time when there was no risk that people might hoard them in order to speculate on their value rising. If one cowrie shell bought a fish, there wasn’t any risk that some fisherman would try to corner the market and push the price of fish up in order to become rich. You didn’t need a Central Bank of Cowrie.

And indeed everything would be great with Bitcoin if it were just used as a medium of exchange for virtual goods – which is exactly how it was used for a long time. Hackers would pass them between each other for goods and services online. It was great: a sort of cryptographic cowrie shell for virtual fish. Sometimes a few would “leak” out into the real world, where people would put a finger in the air and guess at a fair value.

But that’s where the trouble lay. Using Bitcoin to buy real stuff – such as drugs – exposes its woeful lack of rigour.

First, there’s nothing to keep Bitcoin liquid. It’s not like pounds or dollars; it’s more like gold, which all the nations abandoned as an exchange standard decades ago for the very good reason that it leads you into recessionary patterns – such as when people hoard it in the hope that the price will go up, and people buy it because they hear the price is going up, and then … yes. Like that.

If you need to understand why hoardable commodities are bad, read the economist Paul Krugman’s 1998 column on the Washington babysitting co-op. (It’s worth it, really.) Even worse for Bitcoin, there’s no Bank of Bitcoin which can release extra liquidity when people start hoarding (as they have been). At least when we had a gold standard, there was gold in vaults which could be moved around to create a sort of liquidity.

But Bitcoin is just a bunch of people trading cryptographic cowrie shells – but now with internet-speed ability to see instantaneous prices, and with a burgeoning desire to spend it on “real” things. That’s where Bitcoin encounters the feral world of “fiat” currencies – pounds, dollars, yen – which have gigantic reserves, enormous liquidity, and most of all can’t be easily cornered (and have sharp teeth if you try). Trying to squeeze Bitcoins out through the narrow conduits of the virtual exchanges into the real world exposes them as barely-born things, which aren’t really suited to the fierce demands of the real world.

In short, there’s no way that Bitcoins will become a global currency. There’s no way they’ll become a currency, unless they actually get a bank – which isn’t likely, or even feasible. They’re great for trading on the digital seashore. And one day, a cryptocurrency – impossible to counterfeit, entirely digital, instantly transmissible – could become really important in our real world.

But it won’t be Bitcoin. Sorry, folks. Especially if you lost out in that crash on Wednesday.

JC Penney’s most discounted item: Its bonds

Category : Stocks

The retailer’s bonds are trading at around 70 cents on the dollar, suggesting investors think it could be headed for bankruptcy. But the value of its real estate alone is higher than all of its debt.

Read more: JC Penney’s most discounted item: Its bonds

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Ilmenau University of Technology and Objectivity Unveil Combined Data Stream Analytics & Sensor Data Processing Technology Leveraging InfiniteGraph at BTW 2013 in Magdeburg, Germany

Category : World News

InfiniteGraph, the Only Real-Time, Distributed Graph Database, Combined With Motion Sensing Technologies Enables New Levels of Analysis for Healthcare, Advertising, Gaming and Business Analytics

See the original post: Ilmenau University of Technology and Objectivity Unveil Combined Data Stream Analytics & Sensor Data Processing Technology Leveraging InfiniteGraph at BTW 2013 in Magdeburg, Germany

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Social enterprise lessons from Mumbai

Category : Business

Alex Mitchell explains the themes at the heart of entrepreneurship in India’s commercial capital

Recently I was invited to Mumbai by Young Indians to address the inaugural Commonwealth Asia Alliance for Young Entrepreneurs summit on behalf of Young Brits and the G20 Young Entrepreneurs Alliance. During my time in the city I got to visit some remarkable micro enterprises and meet some quite amazing social entrepreneurs. I wanted to share two of the lessons I learnt from these individuals, who from the outside seem to have the odds stacked against them, but all share a will, determination and ultimately a desire to bring about a real change.

From the moment you step off the plane you are hit by it, your senses are over powered by it and you will not escape it. It pulls you in and wraps you up. In a word, it’s ‘enterprise’.

Enterprise is everywhere, from stall sellers in the airport to the cabbies pitching for your business outside, the street sellers trying to get you to buy anything from leather jackets to balloons and the street food sellers with a dazzling array of dishes. This is a city where business is not just a part of its being, it is its being.

With a population of over 24m, 7m using the trains everyday (slightly less than the population of Switzerland), 5.5m using the buses daily (roughly population of Denmark) and the equivalent of a third of the worlds population making a train journey every year, this city is busy. At first glance it might seem chaotic, but it is organised chaos, everyone knows what they are doing, where they are going and there is a very real sense of a want to create work, business and money from them and their families.

This was the first of two lessons I learnt; it is all about the family.

I spent a day in the worlds most densely populated slum Dharavi, which sits in the centre of Mumbai, it houses over a million people and it wasn’t what I expected. It was safe, the people living there were welcoming and rather than there being a feeling of depression everyone I met was aiming to create a better life for them and their families. And by family I mean it in the widest possible sense.

Communities working together, creating a degree of financial independence through enterprise. In Dharavi alone there are over 10,000 businesses operating in sectors like leather, pottery and recycling. I came across larger business outside of Dharavi outsourcing the production of chapati’s to women within Dharavi, this not only provided a small income, but crucially it gave women a degree of buying power and therefor equality within the family unit.

And then there was the emphasis on education. The young children in Dharavi were immaculately turned out attending daily classes on English to math’s. Education was seen as a key way out, with the people I met seeing community enterprise as vital in helping their children to a brighter future.

Isn’t this what true social enterprise really is? Helping each other, providing support and opportunity for all, creating a better future for yourself, your children and the wider community.

There was no hiding away from it, life in Dharavi is tough, extremely tough, it left me with a lasting impression of how lucky we are. But what I did see was that through a community spirit that delivers practical solutions brought about by enterprise, there was a glimmer of hope.

My second lesson is taken from Mumbai’s world renowned dabbawalas.

So who are the dabbawalas? They transport home cooked food in dabbas (tiffins) from the homes of people who work in the city to their offices and back again. On a daily bases they move over 400,000 dabbas and have over 200,000 customers. The really interesting thing about the dabbawalas is two fold. First, they have no formal education, they are from poor backgrounds and they are recruited as dabbawalas to provide them with a skill and a career. Second, they use no form of telecommunication or IT system. It is all done by a coding system on the lid of the dabbas.

Now here is the amazing thing, they have an error rate of one in 16 million deliveries!

So why have I picked the dabbawalas as a lesson? They have been operating for 122 years, have a work force of over 5,000 people, operate a very flat structure with their board still doing deliveries and all pay is equal. So everyone is dependent on each other. Also every dabbawala is able to negotiate with their customer on the price point per delivery. They are trusted to be truthful and honest, to share all their earnings and negotiate sensibly.

It is an enterprise which has been answering a social problem for over a 100 years, they have been giving career opportunities to those in society with little or no education. And they have done this by trusting their work force and giving them real financial responsibility.

The lessons I learned in Mumbai where basic. But we often seem to forget the basics. We either focus on the next ‘big thing’ or we say it is up to someone else to sort out. Whereas it is actually up to us all to make a better future for ourselves, our families and our communities, be they local or far.

I recently said ‘all businesses will be social enterprises’ but I don’t think I got it quite right. All businesses need to be, but we all must be more social in our outlook. What I saw in Dharavi and with the dabbawalas shows what I feel is the true essence of social enterprise, delivering real change through communities and individuals addressing some of the countries toughest challenges. This is something we can learn from Mumbai. A collective responsibility and a shared awareness that will help make society better for all.

Alex Mitchell is director at Young Brits Network, a social enterprise aiming to provide a global voice for young British entrepreneurs

This content is brought to you by Guardian Professional. To join the Guardian Social Enterprise Network, click here.

When VC deals don’t work out

Category : Stocks

Not every VC deal can be a hit. And that’s when the real work begins.

The rest is here: When VC deals don’t work out

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