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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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James Crosby to give up knighthood and 30% of pension

Category : Business

Request by discredited former HBOS chief comes after MPs’ report slammed his management of bank

• James Crosby’s statement in full

Sir James Crosby, the former boss of HBOS, has asked for his knighthood to be revoked after a scathing report by MPs found that he sowed the “seeds of destruction” at one of Britain’s biggest banks.

Crosby was chief executive of HBOS until 2006, but was described as the architect of a strategy that just two years later led to the bank having to be rescued by Lloyds and eventually bailed out with £20bn of taxpayers’ money.

He said he was “deeply sorry” for his role in HBOS’s failure and asked for his knighthood to be removed. He is believed to be the first person to have voluntarily offered to hand back a knighthood. The 57-year-old chose to give up the honour, granted in 2006, rather than face the prospect of being stripped of it – as Fred Goodwin, the former boss of RBS was last year.

Crosby also offered to hand back 30% of his £580,000-a-year pension. He will still collect £406,000 annually in pension payments – 80 times as much as the average private sector worker. On Tuesday he also quit his £125,000-a-year role on the board of catering company Compass.

Attention is now likely to turn to his successor at HBOS, Andy Hornby, and the chairman, crossbench peer Lord Stevenson, who were also blamed in the damning report.

Liberal Democrat peer Lord Oakeshott said: “James Crosby has done the right thing. Clearly it’s not sustainable for Andy Hornby not to follow.”

Crosby’s decision came hours after David Cameron refused to intervene when MPs from all three main political parties called for action.

The former banker, who is sitting on a pension pot worth more than £20m, said he had “never sought to dissociate” himself from HBOS’s near-failure and its bailout by taxpayers.

“Shortly after I left HBOS, I received the enormous honour of a knighthood in recognition of my own – and many other people’s –contribution to the creation of a company which was then widely regarded as a great success,” he said.

“In view of what has happened subsequently to HBOS, I believe that it is right that I should now ask the appropriate authorities to take the necessary steps for its removal.”

The Parliamentary Commission on Banking Standards report, published on Friday, had described him as the “architect of the strategy that set the course for disaster”.

The MPs blamed Crosby for putting in place “a culture of perilously high–risk lending” with a lack of controls that “may have given rise to an accident waiting to happen”.

Crosby said the report, which described his misjudgments as “toxic”, made for “very chastening reading”.

The honours forfeiture committee, chaired by the head of the civil service Sir Bob Kerslake, will meet to discuss Crosby’s request for his knighthood to be revoked. A spokesman for the Cabinet Office said although it is believed to be the first time anyone has asked to have their knighthood revoked, Crosby’s request does not preclude the committee formally stripping him of the title if it is told to consider doing so – as happened with

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Callinex Mines Inc. (CLLXF: OTC Link) | Proxy Materials

Category : Stocks, World News

Mon, Apr 08, 2013 06:18 – Callinex Mines Inc. (CLLXF: OTC Link) released their Proxy Materials concerning Request for Financial Statements. To read the complete report, please visit:

Read the rest here: Callinex Mines Inc. (CLLXF: OTC Link) | Proxy Materials

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Alexium International Group Ltd. (AXXIY: OTCQX International) | Home Country News Release – Alexium Submits Proposal by Request to the US Army.

Category : Stocks

Alexium International Group Ltd. has filed a Home Country News Release – Alexium Submits Proposal by Request to the US Army. To view the full release click here (link to PDF).

The rest is here: Alexium International Group Ltd. (AXXIY: OTCQX International) | Home Country News Release – Alexium Submits Proposal by Request to the US Army.

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Functional Technologies Reports Management Changes

Category : Stocks, World News

VANCOUVER, BRITISH COLUMBIA–(Marketwire – Dec. 7, 2012) - Functional Technologies Corp. (TSX VENTURE:FEB)(OTCQX:FEBTF) (the “Company”) reports that Mr. Howard Louie and Mr. Geoff Lee have resigned from their positions as Chief Business Development Officer, and Vice President of Business Development, Secretary and Director, respectively, to pursue other interests. Both Mr. Louie and Mr. Lee will make themselves available to the Company to assist in the orderly transition of responsibilities and will continue to provide consulting services to the Company from time to time upon request.

Original post: Functional Technologies Reports Management Changes

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Palestinians submit statehood resolution to UNGA – Jerusalem Post

Category : Stocks

CBS News
Palestinians submit statehood resolution to UNGA
Jerusalem Post
The Palestinian Authority late Monday night submitted a draft resolution to the UN General Assembly which if approved will upgrade its status to nonmember state, the Wall Street Journal reported. The vote is set to take place Thursday in the 193-seat body.
Palestinians Submit Resolution on UN StatusWall Street Journal
Police order Palestinian workers off buses to West Bank, at request of Israeli Haaretz
How Palestinians Can Finally Achieve IndependenceBloomberg
The Guardian

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Spanish economy mired in recession

Category : Stocks

Spain’s GDP fell by 0.3% in the third quarter, amid pressure for PM Rajoy to request a bailout.

Read more: Spanish economy mired in recession

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Argentine ship is seized in Ghana

Category : World News

An Argentine naval ship is seized in Ghana at the request of investors who lost out when Argentina defaulted on its loans in 2001.

Here is the original post: Argentine ship is seized in Ghana

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American Airlines accuses pilots of sabotaging ailing company’s flights

Category : Business

As airline relies on negotiating concessions from employees, departures are delayed and maintenance requests are up

Delays, lost luggage and confusing information are the unfortunate trademark of modern air travel, but American Airlines has reached a new record in airline disservice in the past month in what seems to be an intentional move by employees.

Back in November, American Airlines filed for bankruptcy after losing $10bn in a 10-year period. Its money-saving bankruptcy restructuring plan relies heavily on negotiating further concessions from flight attendants, maintenance workers and pilots.

Those pilots have become increasingly frustrated with American Airlines management and has been in and out of contract negotiations with the company. The day after pilots learned a judge had thrown out their contact, the amount of on-time flights dropped from 77.9% to 46.5%.

On his aviation blog, Dallas Morning News’ Terry Maxon suggested that some pilots may be intent on sabotaging the airline. An an unidentified American Airlines pilot said on Maxon’s blog that AA pilots were filing maintenance reports for minor faults that would otherwise have been left until the plane was in a more convenient location for repair. The pilot wrote:

If you ran your car like American Airlines has been running for the last two weeks, if your car was leaking oil on the drive, write it up. Windshield wipers streaking, write it up. Shocks squeaking, write it up. Car pulls slightly to the left, write it up. Your wife would be thrilled … until the bill came in.

The pilots’ union has said it is not organizing intentional service disruptions, but American Airlines believes otherwise. On Wednesday, senior vice-president of people Denise Lynn sent an email to the APA that said:

I am writing to express my concern about mounting evidence that certain pilots are engaging in an unlawful, concerted effort to damage the Company. This unlawful conduct is taking the form of discretionary pilot actions including such things as delaying departures for unnecessary checks, increased and late-filed maintenance write-ups, increased block times due to slow taxiing, and circuitous routings. This behavior has been accompanied by statements from pilots indicating that the activity is intended to ‘send a message’ to the Company to express displeasure with AMR management, the Court’s Section 1113 decision and the absence of a new consensual agreement with the Company.

On Monday, a report in the New York Post detailed how a loose row of seats on a Miami bound flight caused an emergency landing at the city’s Kennedy airport. The request for a diversion wasn’t directly linked to the alleged sabotage action, but an APA spokesman was quick to respond to the incident.

“With turbulence, you have to be cautious. That’s why everyone has to stow everything under the seat to prevent loose objects from flying around the cabin – and you’ve got a whole row of seats unbolted,” a spokesman for the Allied Pilots Association told the Post. “It’s a head-scratcher, the first time I’ve heard of it in 24 years with American.”

All of which has led to commentators giving some sharp advice to the airline:

You, American Airlines, should no longer be flying across the Atlantic. You do not have the know-how. You do not have the equipment. And your employees have clearly lost interest in the endeavor. Like the country whose name graces the hulls of your flying ships, you are exhausted and shorn of purpose. You need to stop.

And to passengers:

You seriously have to stop traveling on American Airlines. Seriously. If you’re booking some travel somewhere, book it somewhere else. If your company has some relationship with American that gives them a strong preference for you to fly with American, still book it somewhere else.

White House Asks YouTube To ‘Review’ Anti-Muslim Movie – ABC News (blog)

Category : Stocks

White House Asks YouTube To 'Review' Anti-Muslim Movie
ABC News (blog)
The Obama administration has asked YouTube to review its posting of the anti-Islam film “Innocence of Muslims,” which has provoked violent protests across the Middle East. “We reached out to YouTube to call the video to their attention and ask them to
Google decides to leave video on YouTubePolitico
Google rejects White House request to pull Mohammad film clipReuters
The heckler's victoryNew York Post
New York Times (blog)

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Apple (AAPL) has added 4 more Samsung (SSNLF.PK) products, including the hit Galaxy S III and the Note 10.1 tablet, to a U.S. patent suit that’s separate from the one that delivered a favorable jury verdict last week. The suit, which is related to 4…

Category : Stocks

Apple (AAPL) has added 4 more Samsung (SSNLF.PK) products, including the hit Galaxy S III and the Note 10.1 tablet, to a U.S. patent suit that’s separate from the one that delivered a favorable jury verdict last week. The suit, which is related to 4 software patents and now involves 21 devices, is also being filed on Apple’s home turf, via the U.S. District Court of Northern California. The S III and Note 10.1 arrived too late to be among the devices Apple could request bans for in response to its jury win. 194 comments!

More: Apple (AAPL) has added 4 more Samsung (SSNLF.PK) products, including the hit Galaxy S III and the Note 10.1 tablet, to a U.S. patent suit that’s separate from the one that delivered a favorable jury verdict last week. The suit, which is related to 4…

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