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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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Boston Plastic Surgeon Reveals Alternative Uses for BOTOX Injections

Category : Stocks

Dr. Leonard Miller Uses BOTOX Injections to Help His Patients Find Relief From Excessive Sweating, Headaches, and Teeth Grinding

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Move Your Workout and Your Family Outdoors

Category : Stocks, World News

MISSION, KS–(Marketwired – Apr 11, 2013) – (Family Features) Playing together outdoors is the perfect way for families to bond while staying active and fit, but when seasonal allergies come into play they can keep many families on the sidelines. Allegra is setting out this season to show people there’s no reason to suffer if you have the right relief, and has teamed up with basketball star Lisa Leslie to share fun, affordable workout tips that help families enjoy the outdoors even during allergy season.

Read this article: Move Your Workout and Your Family Outdoors

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Bonal International, Inc. (BONL: OTC Link) | Bonal International, Inc. Posts Third Quarter Record in Revenue

Category : Stocks, World News

Bonal International, Inc. Posts Third Quarter Record in Revenue< ?xml:namespace prefix = o ns = "urn:schemas-microsoft-com:office:office" />

Good third quarter profits gives global stress relief leader eleventh consecutive profitable quarter.

Royal Oak, Mich., February 14, 2013 – Bonal International, Inc. (OTC: BONL) announced a record third quarter revenue of $620,577, up 53 percent over last year’s third quarter of $405,533.

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Jersey puts stop to vulture funds circling its courts

Category : Business

Creditors had used island to sue debt-ridden nations, with latest case involving Democratic Republic of the Congo

Politicians in Jersey have voted to ban so-called vulture funds from using the island’s courts to sue the world’s poorest countries for historic debts.

Vulture funds, which buy up poor nations’ debts on the cheap before suing them for up to 100 times the original amount, had attempted to take cases to Jersey after British law banned the practice.

In the latest case, multimillionaire speculator Peter Grossman used Jersey’s courts to sue the Democratic Republic of the Congo (DRC) for $100m (£64m) over a decades-old debt that started out at $3.3m. Grossman, who runs the FG Hemisphere fund, was able to take the case to Jersey’s courts because the island is a crown dependency not covered by all UK laws.

The Jersey court ruled the DRC’s state-owned mining company should pay back the debt, which was originally a loan from the former Yugoslavia to build power lines 30 years ago. The judgment was eventually overturned by the privy council, the final court of appeal for Crown dependencies.

Jersey’s chief minister, Ian Gorst, said the island’s decision to change its laws so they fall in line with those in the UK sent a clear message that Jersey was a “well-regulated, co-operative and transparent jurisdiction”.

All but one of Jersey’s parliamentarians voted in favour of changing the law to severely limit vulture funds’ claims on debts owed by 40 of the world’s poorest countries. The remaining member of the States of Jersey abstained from the vote on Tuesday.

“I am very pleased that the debt relief legislation received such strong support from my fellow States members,” Gorst said. “Today’s vote shows that Jersey is fully committed to supporting international debt relief efforts.”

When the draft legislation was lodged last month, Gorst said the law would show Jersey is “demonstrating its commitment to play its part in the global effort, expressed in the UN Millennium Declaration, to support debt relief efforts intended to assist the world’s most heavily indebted poor countries”.

Draft legislation states that the change in the law will “prevent the Jersey courts being used to seek to enforce in full, the debts of countries to which the governments of other countries, multilateral lenders and commercial creditors have provided relief under the [heavily indebted poor countries] initiative”.

The UK is the only country in the world to have brought in a law to limit vulture funds practices, but other countries are considering similar proposals.

The Treasury estimates the UK Debt Relief (Developing Countries) Act passed in 2010 will save some of the most impoverished countries £145m.

The International Monetary Fund and the World Bank estimate that vulture funds are seeking total claims of $1.47bn from countries including Cameroon, Ethiopia, Sudan, Uganda, and the DRC.

Tim Jones, policy officer at Jubilee Debt Campaign, which is campaigning for the cancellation of debts owed by poor countries, said: “We warmly welcome this legislation to protect 40 countries from odious vulture fund claims in Jersey. However, vulture funds continue to cause havoc across the global economy. One case currently being heard in the US may even force Argentina to default on its debt.

“Global action is needed to make all creditors comply when government debts have to be written off.”

Last month, an Argentine naval ship was seized in Ghana as part of an attempt by a hedge fund run by US billionaire Paul Singer to collect on debts arising from the country’s defaulted bond swaps in 2005 and 2010.

Argentina has asked the United Nations to order the release of the Libertad tall ship, which has been prevented from leaving Ghana after a local court ruled in favour of Singer’s Elliott Capital Management.

During its 2001 economic crisis Argentina defaulted on more than $100bn of debt. Most of the loans were subsequently restructured, giving creditors back about 30p in the pound, but some creditors including Elliott, chose to hold out and pursue the Argentine government through courts across the world.

US and China: Worlds apart but much in common – CNN

Category : Stocks


New York Times
US and China: Worlds apart but much in common
CNN
In space of one week, world's two great powers decide their immediate futures; Beijing has cautioned U.S. politicians to treat China with respect; U.S. has pivoted to Asia away from wars in Iraq and Afghanistan; Away from heat of politics and trade, ordinary
Chinese public congratulates ObamaUPI.com
China says Obama win offers opportunity to mend tiesReuters
Relief and Hope in Asia Over Obama VictoryNew York Times (blog)
Huffington Post

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Bring back the small cap IPO

Category : Business, Stocks

The JOBS Act provides some relief, but there are still too many impediments to the public markets for smaller companies. Here’s how we can fix that.

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Norway Killer Deemed Sane, Given 21 Years – Wall Street Journal

Category : Stocks


Wall Street Journal
Norway Killer Deemed Sane, Given 21 Years
Wall Street Journal
By KJETIL MALKENES HOVLAND and JOHN D. STOLL Anders Behring Breivik, in Oslo's courthouse on Friday, was sentenced for the killings of 77 people in attacks last year. OSLO—Confessed mass killer Anders Behring Breivik was sentenced in an Oslo courtroom
Norway Mass Killer Gets the Maximum: 21 YearsNew York Times
Breivik's acceptance of prison sentence brings relief to Norway (+video)Christian Science Monitor
Norway Gunman Declared Sane, Sent Away to PrisonABC News
BBC News

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New Soap Opera: The Comedy of Euros

Category : Business, Stocks

NEW YORK (TheStreet) — The term “European Theater” was first coined during World War II. Today in the financial markets, the term has come to symbolize an ongoing soap opera, where the audience is continually held in suspense as the bad actors (the politicians) promise actions and solutions to current crises, which have been created by their prior actions. Each time solutions are proposed, the audience breathes a sigh of relief (i.e., relief rally in the equity markets) only to be disappointed when they find out that the solutions won’t work or can’t be implemented.

As a result, the crisis and suspense continues, keeping the audience’s total attention (even while dinner on the stove at home is burning). Meanwhile, a new issue or crisis appears, it seems, on a daily basis. Likely New Episodes Daily we watch yields on Spanish and Italian debt move ever higher, now in zones where other countries have cried “uncle” and asked for bailout help. At the same time, the credit default swaps on Spanish and Italian debt have risen to record levels.

New Episode: Will the capital markets force a Spanish bailout by locking Spain out of the debt markets? Spanish bank recapitalization: We have recently learned that the European Central Bank is willing to impose losses on the shareholders and junior bondholders of some of the Spanish savings banks. (When they bailed out Ireland, all bondholders were saved.) The draft of the document meant to give Spain’s banks 100 billion euros has this provision, but the periphery’s finance ministers are opposing it….

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Target Joins Card Settlement Opposition (Update 1)

Category : Stocks

Updated to include a correction: A previous version of this story stated that Target had filed a separate lawsuit. It has not. TheStreet regrets the error.

NEW YORK (TheStreet) -Target Corp. joined groups including the National Association of Convenience Stores in opposing a proposed $7.25 billion settlement of a lawsuit brought by a large group of retailers against Visa, MasterCard and most of the largest U.S. banks.

“Target believes the proposed interchange fee settlement is bad for both retailers and consumers. The proposed settlement would perpetuate a broken system, restrict retailers from any future legal action and offer no long-term relief for retailers or consumers. In addition, Target has no interest in surcharging guests who use credit and debit cards in order to allow VISA and MasterCard to continue charging unfair fees. We will continue to explore our options while working toward a solution that represents true reform,” read a statement from the retailer. Target was not a named plaintiff in the lawsuit but would be impacted by the settlement. …

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Read this article: Target Joins Card Settlement Opposition (Update 1)

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Buy Nike! Against the Grain

Category : Business, Stocks

Marek Fuchs, senior contributing analyst at TheStreet, tells Nike traders to see a band of relief.

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