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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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Dream Dinners Stores Give Mom a Dreamy Mother’s Day and New Lifestyle

Category : Stocks

It’s 5 O’Clock. Make Mom’s Life Easier With a Gift Card From Dream Dinners Meal Assembly Stores. Homemade. Made Easy.

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Dream Dinners Stores Give Mom a Dreamy Mother’s Day and New Lifestyle

Category : Stocks

It’s 5 O’Clock. Make Mom’s Life Easier With a Gift Card From Dream Dinners Meal Assembly Stores. Homemade. Made Easy.

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Starbucks introduces reusable cups

Category : Business

Coffee chain says £1 cups will encourage customers to cut waste and save them money on every order

The coffee chain Starbucks is introducing a reusable cup which UK customers can keep, in a move designed to encourage them to be more environmentally conscious while saving money.

The reusable cup is based on the design of the brand’s distinctive white and green paper cups and will cost £1.

Customers who use their reusable cup will receive a 25p discount off their Starbucks drink every time they use it. The cup is made of a high-quality material which is lighter than the Starbucks ceramic tumblers, which will still be available.

The reusable cups will be available in selected stores nationwide from today but will be rolled out gradually elsewhere.

The US coffee giant has pledged to press ahead with a major expansion plan in the UK – aiming to open 300 new stores and create 5,000 extra jobs by 2016 – amid ongoing controversy over its failure to pay UK corporation tax over the past three years.

Ian Cranna, vice-president of UK marketing for Starbucks, said: “We know that our customers really care about saving money and doing their bit for the environment; between 2008 and 2012 the number of people using a Starbucks reusable tumbler increased by 235% and our new reusable cup is a low-cost, high-impact way to help make a difference on reducing waste.”

Globally the chain is aiming for 5% of drinks made in its stores to be served in reusable cups by 2015 and the company says its move in the UK is a key step towards reaching this goal.

Best Buy banking on Samsung stores

Category : Business

Shares hit a new 52-week high after the troubled electronics retailer said it was launching boutique Samsung shops within its stores.

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VIDEO: Dragon Jones sees big picture at Jessops

Category : Business, World News

Dragons’ Den star Peter Jones has spoken of his excitement as camera retailer Jessops re-opens 30 stores across the country.

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Camera chain Jessops re-launches

Category : Business

Camera chain Jessops has re-opened two of its stores just a couple of months after going into administration in January with the closure of 187 branches

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Supermarkets sense that size may no longer be key to conquering retail universe

Category : Business

Tesco finds its mega stores are a waste of space and Morrisons makes a late bid to get online as grocers adapt to new habits

There is trouble afoot in supermarket land. The UK’s £160bn a year grocery business has run on a fairly simple model since the early 1990s – with one of the key routes to success being the ability to open more and bigger shops.

It was dubbed the space race and at times the mission threatened to carpet the country with superstores, extending the shops that were already open and shoving in mezzanine floors to display endless racks of fleece blankets, frying pans and fashion.

But, quite suddenly, it has dawned on the major players that size is not necessarily what matters, because shoppers are changing their habits fast. They are shopping in smaller outlets, more often, and moving online at a dramatic rate. They are also less loyal – food shoppers now use on average four different shops a month, and shoppers under 30 tend to use six.

Official data shows online retail sales reached more than £50bn last year, out of total UK retail sales of £350bn. That’s already 14% of total spending. According to retail analyst Philip Dorgan at Panmure, more than 30% of retail sales will eventually be transacted online – 20% of food sales and 40% of non-food.

Sales through mobile devices, say online retail specialists IMRG, were up more than 300% last year, but the value of each online “basket” declined – suggesting consumers are going online for smaller, more regular purchases.

The changes in shopping habits will mean a seismic shift in the world of retail and changes in behaviour that Dorgan reckons will have “cataclysmic implications”. In the last week, announcements by two of the big four supermarkets can be linked directly to the changes that are coming.

Morrison revealed it is in talks with online grocer Ocado to (belatedly) find a way to offer online grocery shopping, while Tesco announced it is buying Giraffe, a rather upmarket restaurant chain selling mojitos alongside child-sized portions of grilled veggie focaccia, aimed at middle-class families.

Morrisons is well behind the online curve. Its chief executive Dalton Philips has spent three years thinking about moving online, although he describes his tardiness as offering the benefits of “last mover advantage”. He bought a stake in a New York online grocer to see how to make the internet work, acquired the Kiddicare web retailer for much the same reason and had the benefit of an Ocado founder, Nigel Robertson, on his board as a non-executive. Clearly, none of them provided enough answers because Philips is now talking to Ocado about licensing its technology and offering home deliveries sometime next year, hopefully, maybe.

Tesco is battling to prevent its market share being further eroded: in February, it slipped to 29.7% – its lowest level for seven years. Chief executive Phil Clark is fighting back with price promotions, which always provoke a reaction from rivals not unlike the final scene in Reservoir Dogs. But shoppers are still defecting to upmarket Waitrose and hard discounters like Aldi and Lidl. What do they have in common? Smaller stores, which require less time to do the weekly shop, and a clear price position.

Tesco is the biggest online grocer, but it has too many big stores. Clark has conceded there are unlikely to be many more giant out-of-town superstores but, in fact, he is going to have problems finding a use for the space he has. Hence the acquisition of Giraffe. The restaurants are designed to pull families to the stores, but they are unlikely to be sited inside the shops. Instead, expect Tesco to build a wall in some out-of-town mega-shops, with a separate entrance for a Giraffe restaurant.

The grocer has also acquired a 49% stake in upmarket coffee chain Harris+Hoole and a share in artisan bakery business Euphorium. It is all a far cry from bogofs and horseburgers.

As Dorgan explains: “Tesco needs to invest in areas that its shoppers will want to spend time doing when they spend a lot less time shopping. Eating out is clearly one.”

JP Morgan’s big fish gets off the hook

Five years ago this week, Jamie Dimon was an all-American hero. The boss of JP Morgan had stepped in to rescue Bear Stearns, averting the type of crisis that was to befall the world when Lehman Brothers collapsed six months later, unleashing chaos in the financial markets.

This week Dimon was anything but a hero. His bank was lambasted by the very effective Senate permanent sub-committee on investigations for the “London Whale” trading incident, which cost the bank $6.2bn in losses and an unmeasurable amount of reputational damage. Carl Levin, the committee chairman and a man accustomed to handing out maulings, said: “We found a trading operation that piled on risk, ignored limits on risk-taking, hid losses, dodged oversight and misinformed the public.”

The committee concluded that Dimon already knew about the London Whale (the nickname of the trader involved) when he dismissed the incident as a “tempest in a teapot” in April, just months before the bank was forced to admit to massive losses.

Dimon – he still has his job – did not give evidence to the Senate committee last week. Instead Ina Drew, JP

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Super Bowl Giveaway Serves as a Warning for Furniture Stores, Says Kontenta

Category : Stocks

Kontenta warns furniture stores against taking unnecessary risks to promote their products

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Stores and jobs saved at Dreams

Category : Business, World News

The majority of Dreams beds stores have been bought by Sun European Partners, saving 1,600 jobs a day after the company went into administration.

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Thomas Cook to cut 2,500 jobs in UK

Category : Business, World News

Travel group Thomas Cook announces it will cut 2,500 jobs in the UK and close some stores as it attempts to revive its profitability.

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