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Chase Bank Limits Cash Withdrawals, Bans International... Before you read this report, remember to sign up to 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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Former Fifa boss resigns over bribes

Category : Business, World News

Fifa honorary president Joao Havelange resigns after being named in a report as having received bribes.

Originally posted here: Former Fifa boss resigns over bribes

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Santander tops bank complaints list

Category : Business

Head of new Financial Conduct Authority says complaints data helps consumers and boosts competition

Santander has been named as the most complained about bank by the new Financial Conduct Authority (FCA). The Spanish-owned bank, which is advertising its 123 current account heavily at the moment, was the subject of four complaints for every one of its 1,000 banking customers during the second half of last year.

Overall, Santander had the fifth-largest number of complaints to the regulator, but the most banking problems per customer. On investments, it was the most-complained about firm with 2,236 complaints, and also received the most mortgage complaints, 14,080.

Barclays topped the new financial regulator’s figures in terms of the gross number of complaints, including banking, insurance, payment protection insurance (PPI) and other issues.

The FCA, which has just taken over from the Financial Services Authority, said that in total there were almost 3.5m complaints about financial service firms during the six months to the end of 2012 with 2.1m about mis-sold PPI. The figure was 1% higher than the first half of the year as the number of PPI complaints climbed by 5%.

There was some better news for pure banking customers. Complaints about current accounts fell 6% while problems with insurance rose by the same amount.

The figures show that Barclays was the subject of 414,302 complaints to the FSA, which is down 6% since the first half of 2012. Lloyds TSB had 349,386 (down 19%), Bank of Scotland/Halifax: 338,912 (down 7%) while Santander received 237,923 (down 1%). The card provider MBNA received a large number of complaints – 270,486 (a drop of 3%).

FCA chief executive Martin Wheatley says: “Greater transparency drives greater competition, and the publication of the complaints data lays bare the track record of the UK’s financial institutions when it comes to resolving customer conflicts.

“When I meet the bosses of the financial institutions they frequently tell me they do not want to be at the top of the table, which means they strive to improve both their sales and complaints handling processes.

“Not only does our data help consumers compare and contrast their current bank or lender, it also boosts competition among firms.”

Dish makes $25.5bn bid for Sprint

Category : Business, World News

US satellite television company Dish Network makes a $25.5bn bid for mobile phone firm Sprint Nextel, which has already received an offer from Softbank.

See more here: Dish makes $25.5bn bid for Sprint

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Media Advisory: Ontario Federation of Labour to Unveil a People’s Budget Following Unprecedented Community Consultation with Citizens and Groups

Category : Stocks, World News

TORONTO, ONTARIO–(Marketwired – April 15, 2013) - In February, the Ontario Federation of Labour launched an unprecedented, province-wide community consultation on the next provincial budget. The People’s Budget campaign visited nine communities, inviting Ontarians to share their ideas for a new approach to addressing our economic, social, and fiscal challenges. The campaign received in-person and written submissions from more than 135 citizens and groups. This input serves as the basis for the recommendations contained in the People’s Budget. On April 15, we share this vision for Ontario.

Read the original post: Media Advisory: Ontario Federation of Labour to Unveil a People’s Budget Following Unprecedented Community Consultation with Citizens and Groups

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Canadian Armed Forces Search and Rescue Team Saves Two People on Boat Stuck in Ice

Category : Stocks

HALIFAX, NOVA SCOTIA–(Marketwired – April 12, 2013) - On Thursday, April 11 at approximately 10:10 p.m. (NST), Joint Rescue Coordination Centre Halifax received a call for assistance involving two persons in a 22-foot open boat stuck in the ice while seal fishing near Harbour Round, NF.

Read more: Canadian Armed Forces Search and Rescue Team Saves Two People on Boat Stuck in Ice

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First Manitowoc Bancorp, Inc. (FMWC: OTCQB) | Bank First announces bank officer promotions

Category : World News

Bank First, a subsidiary of First Manitowoc Bancorp, Inc. (OTCQB: FMWC) recently announced the promotion of two bank officers. Mike Molepske, President and CEO, made the announcement. Officers promoted are:

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Schroders chief takes £1m cut to pay package

Category : Business

The 16% dip in pay came in a year the company reported a 12% drop in pre-tax profits to £360m

Michael Dobson, the chief executive of fund management group Schroders, took a £1m cut to his pay last year after receiving a £5.37m package, down from £6.37m in 2011.

In total Dobson received a salary of £400,000 plus a cash bonus of £2.3m, rewards which were supplemented by two separate grants of shares worth £2.14m and £500,000.

This is the second time in two years that Dobson has taken a £1m pay cut, after receiving £7.37m in 2010.

The 16% dip in pay came in a year the company reported a 12% drop in pre-tax profits to £360m.

In the group’s annual report, Lord Howard, the chairman of Schroders remuneration committee, wrote: “Variable compensation awards for the current executive directors were between 13% and 39% lower than 2011. This reflects the strong results achieved in terms of investment performance and net new business, but also the reduction in profit before tax.”

Executive vice-chairman Massimo Tosato received £3.34m in 2012, while departing chief financial officer Kevin Parry made £2.11m.

Cub Energy Inc.: Receives US$ 3 Million Dividend from KUB-Gas LLC

Category : Stocks

HOUSTON, TEXAS–(Marketwire – March 27, 2013) - Cub Energy Inc. (“Cub” or the “Company“) (TSX VENTURE:KUB) announces that its subsidiary, KUB-Gas LLC (“KUB-Gas“), in which Cub has a 30% ownership interest, has distributed a dividend in the amount of USD 10 million, out of which Cub has received USD 3 million.

See the article here: Cub Energy Inc.: Receives US$ 3 Million Dividend from KUB-Gas LLC

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Government urged to take action to stop nuisance phone calls and texts

Category : Business

Consumer rights group Which? blames claims management companies for plaguing people with unwanted communications

The government must take immediate action to curb the spread of nuisance calls and texts, a leading consumer rights group has urged. Which? blames claims management companies for plaguing consumers with the majority of the UK’s unwanted communications.

The organisation says the Information Commissioner’s Office, the Ministry of Justice, Ofcom and the Office of Fair Trading must set up a joint taskforce to stem the problem, with a particular focus on the personal injury and payment protection insurance claims industry.

Research published by Which? suggests that seven in 10 people received unsolicited calls and four in ten received an unwanted text during the last three months.

The watchdog found that one in four of its members who made a claim on their car insurance were contacted by a claims management company within three months. Nearly half of these were contacted in a week, and many were bombarded by repeated calls and texts – 22% received 10 or more texts and 12% received 10 or more calls.

Currently, a number of leading insurers all take fees for referring customers to claims management companies (with customers’ permission), including: the AA, Admiral, Direct Line, eSure, Lloyds TSB, Tesco and Zurich.

But from April 2013, new legislation will ban any insurer from receiving payment for passing on customers’ details to a claims management company or a legal firm following a personal injury claim, although this doesn’t cover non-injury claims such as car repairs.

Richard Lloyd, executive director of Which?, said: “Unwanted calls or texts are not just a nuisance, they can be intrusive and distressing. Many of us have been bombarded with spurious claims of PPI or injury compensation, and people are telling us they are totally fed up with this nuisance and want to see action.

“We want the regulators to work together to properly police and punish those responsible for unwanted calls and texts, using the existing law. If they are unwilling or unable to enforce the rules, the government should step in.”

Earlier this year Ofcom monitored a six-month period in 2012 and found that 71% of people with a landline received an unwanted marketing call and 63% encountered a recorded message.

Which? says a new joint taskforce should “proactively and forensically” scrutinise the activities of claims management companies over the next 12 weeks to expose the source of the problem and punish those found breaking regulators’ rules with substantial fines and suspension of licences. It also wants to see tougher regulation from the government to clean up the claims management industry.

The organisation advises consumers to never opt in to third party marketing when they take out an insurance policy and to always tell their insurer that they don’t want to be contacted by a claims management firm or a legal firm.

Consumers can also register with the Telephone Preference Service (an organisation run by the Direct Marketing Association on behalf of phones regulator Ofcom), which can help cut nuisance calls by a third. If you are registered with the TPS and still receive calls, you can complain to the Information Commissioner’s Office on 0300 123 3000. You can also forward spam texts to your mobile phone network provider.

Call for ‘nuisance call’ clampdown

Category : World News

A consumer group is calling for a clampdown on nuisance calls and text messages, claiming 70% of people have received one in the last three months.

Go here to read the rest: Call for ‘nuisance call’ clampdown

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