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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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There’s a New Pork Porterhouse in Town

Category : Stocks

MISSION, KS–(Marketwired – May 2, 2013) – (Family Features) Nothing beats a tender, juicy pork chop on the grill — a versatile canvas for a wide range of culinary creations. With new pork cut names to be revealed at the meat case later this summer, home cooks will soon have an easier way to select and prepare their favorite pork meals.

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False White House explosion tweet roils market

Category : Stocks

Stocks plunged after AP tweeted that there were explosions in the White House. But the market quickly bounced back once the tweet was revealed to be fake.

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March Stock Mania: Apple vs. 3D and more

Category : Stocks

Pick your favorite stocks and see who advances to the finals. Winners will be revealed March 25.

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Let’s play Barclays £1m banker bingo | Nils Pratley

Category : Business

Barclays is big in investment banking, where the real money is made, so how many £1m earners are there? 500? More?

Have a guess how many people at Barclays earned more than £1m last year? Could it be 100? No, it must be more. HSBC revealed 192 in its ranks in 2011 and Barclays is much bigger in investment banking, which is where the real money is made. So 300? Or 500? Even more?

All will be revealed next week. Sir David Walker, Barclays’ new chairman, has decided that the bank should adopt the transparent approach on pay that he once advised for all banks. So the annual report will give tallies within bands, including one for those earning £1m and above. That’s in line with the disclosure regime he suggested in a government-sponsored report in 2009.

As it happens, Walker went soft on his own idea the following year, arguing that it would be mistake for the UK to go it alone because our banks would be put at a competitive disadvantage. But, freshly installed at Barclays, he has rediscovered his backbone. Lead by example is the new motto – and very welcome it is too.

The logic behind greater disclosure on pay is sound. If shareholders have more information on pay, they should be better equipped to challenge boards. A stunning revelation in the post-crash fallout was that 200 individuals at Royal Bank of Scotland had been earning more than chief executive Fred Goodwin. Investors – and, it seemed, the Financial Services Authority – had had no idea. If they had known, maybe more outsiders would have stopped to ask whose interests the bank was serving and queried the risks being taken.

Barclays’ voluntary conversion to greater disclosure will send a useful message that the new regime, under Walker and chief executive Antony Jenkins, is prepared to be judged by results on its pledge to “rebalance” pay so that investors get a great share of the spoils. And it will surely be impossible for RBS and Lloyds not to copy the disclosure model. If Barclays can do it, so can the part-nationalised banks. Well done, Walker (assuming there’s no fudging of the numbers by playing games with deferral periods and the like).

But he’s also taking a calculated gamble. It is well-known that the rewards at the top of banks can be extraordinary – for example, at Barclays in 2010 Rich Ricci and Jerry del Missier, at the time the co-heads of investment banking, collected about £40m each. What is less appreciated is how far down a big bank it is possible to earn a life-changing fortune in a single year. Prepare to be amazed – once again – by investment bankers’ winnings.

Half of ECB bond holdings from Italy

Category : Business, World News

The European Central Bank has revealed that Italian government bonds make up nearly half of its holdings under a bond-buying plan.

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Herbalife raises 2013 guidance, yet reveals SEC inquiry

Category : Business, Stocks

Herbalife beat analyst forecasts, boosted its dividend, and bought back 4 million shares. Still, investors remain wary after it revealed an SEC investigation.

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Nestle finds horsemeat in beef meals

Category : Business, World News

The world’s biggest food company, Nestle, has removed beef pasta meals from shelves in Italy and Spain after tests revealed traces of horse DNA.

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Plans for HS2 phase two awaited

Category : Business

The proposed route for the high-speed train network linking Birmingham to Manchester and Leeds is due to be revealed by the transport secretary.

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Morgan Stanley CEO takes a 30% pay cut

Category : Business

James Gorman gets the lowest pay of the 2012 Wall Street CEO packages revealed so far, making less than a third of what Goldman’s Lloyd Blankfein makes.

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HMV launches month-long 25% sale

Category : Business

HMV, which revealed a half-year loss of £37.3m in December, announces a month-long sales promotion which will see 25% knocked off prices.

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