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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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HMRC wins Goldman Sachs court case

Category : World News

HM Revenue and Customs (HMRC) has won its case in the High Court, where it had been accused of illegally letting investment bank Goldman Sachs off part of its tax bill.

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China Education Alliance, Inc. (CEAI: OTCQX U.S.) | China Education Alliance Announces First Quarter 2013 Financial Results

Category : Stocks, World News

HARBIN, China, May 15, 2013 /PRNewswire/ —
China Education Alliance, Inc. (“China Education Alliance” or the “Company”,
OTCQX: CEAI), a China-based education resource and services company, today
announced its first quarter 2013 financial results.

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Results for the 1st Quarter of 2013

Category : Stocks

SAO PAULO, BRAZIL–(Marketwired – May 14, 2013) – CCR S.A. (CCR) (BMFBOVESPA: CCRO3), Brazil’s largest road concession operator in revenue terms hereby announces its results for the first quarter of 2013.

Original post: Results for the 1st Quarter of 2013

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EADS profits up on Airbus deliveries

Category : Business

EADS reports a sharp rise in profits for the first three months of the year, thanks largely to rising revenue from its Airbus subsidiary.

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Manchester United: The business of soccer

Category : Business, Stocks

Winning the richest national soccer league for 13 of the last 21 years has guaranteed a big slice of broadcast revenue, and allowed the club to amass a global following.

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Collaboration and cultural awareness essential in next generation of leaders

Category : Business

A new study has shown that Generation X value very different leadership qualities to their departing peers. How can organisations prepare and shift?

One of the biggest and most under-appreciated upheavals that will affect companies over the next decade is the retirement of the current generation of senior executives. These leaders, who predominantly come from the baby boomer generation, have an outlook on life and commerce which has uniquely shaped today’s business world.

As these leaders prepare to hand over the baton to the next generation, it becomes ever more pertinent to ask: what will follow in their wake? To answer this question and explore the challenges posed by the transition, we conducted an in-depth research study in partnership with Cass Business School, interviewing leading senior executives across a wide range of industries and geographies.

The findings of the report make interesting reading. Emotional intelligence, people skills and flexibility, attributes that have traditionally been seen as more feminine qualities, will be particularly highly valued. In spite of this, most organisations currently underserve female markets. Cultural awareness will also be increasingly important to future leaders, and with this, the ability to speak foreign languages.

It is clear that organisations will need to ease the transition between the two generations of leaders. While it seems inevitable that business and industry will face some significant changes over the coming decade, by adapting to these changes at board level, companies can thrive in the new environment.

There are two fundamental ways in which leadership will have to change. It will need to become more collaborative, and it will need to be more culturally aware. When asked which three qualities they looked for when identifying future leaders, most executives said emotional intelligence, followed closely by flexibility and people skills.

Interestingly, these are traditionally regarded as more feminine leadership skills and would certainly point towards the emergence of a more collaborative, more collective style of leadership, regardless of gender differences.

Around 70% of people felt that their leadership development plans should include some cultural awareness and diversity elements to reflect the growing importance of emerging markets, while an astounding 85% believed that the ability to speak a foreign language will be important to executives. Already, S&P 500 companies derive nearly half of their revenue from international sources and, for many, international revenues are growing faster than their core revenues.

While businesses around the world appear to have a clear idea of the leadership changes required, more worryingly, only 41% of respondents believed that their organisations are ready for these changing workplace demographics of age, gender and diversity.

In order to thrive in the post-baby boomer landscape, companies need to put serious thought and effort into smoothing the intergenerational transition for leaders from Generations X and Y. Organisations must find ways of transferring as much knowledge and experience as possible through directly mentoring next generation talent, so that tacit knowledge can be transferred, and written knowledge can be cemented.

Organisations must also accommodate the different work attitudes and motivations of the generations, moving if necessary to a flatter organisational structure and providing opportunities for freer movement.

Adapting need not involve dramatic change, but it requires a subtle shift of culture and priorities. As with tomorrow’s leaders, flexibility and a focus on people will be key survival attributes for tomorrow’s leading organisations.

Richard Boggis-Rolfe is chairman of Odgers Berndtson. The report is out today.

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HMRC to help Ethiopia and Tanzania collect taxes

Category : Business

Aim is to reduce reliance on overseas funds while ministers hope to distract from lack of aid commitment

The government is to help Ethiopia and Tanzania to build their tax-raising powers and so reduce their dependency on overseas aid to run an effective government.

David Gauke, the Treasury minister, will announce the initiative on Tuesday in a public interparty debate on tax transparency and aid organised by the Enough Food for Everyone IF campaign. Ministers hope the move will mollify aid agencies over the absence of legislation entrenching an aid commitment in the Queen’s speech.

HMRC claims there has been a 40% increase in tax revenue collection in Ethiopia since 2010, when the British government became involved. Nearly 78% of Ethiopia’s tax revenue came from fewer than 1,000 individuals in 2012, the Ethiopian customs and revenue department recently reported.

Tanzania’s tax revenues to central government were equivalent to 15.7% of GDP in 2011-12, with the gap between tax revenues and public spending averaging about 12% of GDP over the past three years. The shortfall is covered by aid and government borrowing. Three-quarters of tax revenues are raised in the region of the capital, Dar es Salaam.

Gauke will say HMRC will work with both Ethiopian and Tanzanian tax authorities to undertake a health check to look at the structure of their revenue authorities, their potential to raise tax, and the degree of corruption or evasion either by individuals or companies. The authorities will be focusing on tax inspector training, a complaints handling process and a risk management system.

Separately, campaigners are concerned about the lack of information on tax co-operation by international companies operating in Africa.

Potential revenues lost to developing countries through tax avoidance and evasion amount to three times the sum that they receive in international aid, it has been estimated.

The hugely complex world of tax transparency is high on the agenda for David Cameron at the G8 meeting of industrialised leaders this summer. George Osborne has already announced a deal to increase tax transparency in overseas territories, but campaigners have been seeking greater detail to evaluate its true impact.

In addition, the IF campaign has been pressing for a requirement in the finance bill for UK companies and wealthy individuals to report their use of tax schemes that have an impact on developing countries.

When such tax schemes are identified, the UK should use its current powers to notify the tax authorities of developing countries and assist in the recovery of the money they are owed.

IF also wants the UK to use its presidency of the G8 to launch a convention on tax transparency. Under such a convention, countries would commit to preventing individuals and companies from hiding wealth so that it is untraceable; tax havens would be required to share with developing countries any important information on hidden wealth and assets; and developing countries would receive assistance in recovering taxes due to

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Facebook profits from mobile ads

Category : Business, World News

Facebook announces higher profits and revenues in the first quarter of 2013, boosted by a jump in advertising revenue.

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Judges to rule on tax deal with bank

Category : World News

The High Court is being asked to decide whether HM Revenue and Customs acted illegally by letting Goldman Sachs off part of its tax bill.

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Latteno Food Corp. (LATF: OTC Pink Current) | Latteno Food Issues Update Report on Current Operations

Category : World News

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Latteno Food Issues Update Report on Current Operations

Acquisitions and Growth Signal Significant Increase in Asset Value and Income

PR Newswire

SANTA ANA, Calif., May 1, 2013

SANTA ANA, Calif., May 1, 2013 /PRNewswire/ –

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