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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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European CEOs Explore Migration, the EEA, and Executive Education

Category : World News

LONDON, ENGLAND–(Marketwired – April 29, 2013) - The changing face of the European political and economic landscape that is emerging from the turmoil of the last few years is set to have severe consequences for many of the region’s businesses and leaders. As disputes over the shape of the EU and its structures rumbles on – tighter integration or looser ties, heavier regulation or a more liberal approach – many different camps are desperately trying to negotiate terms that will best suit their citizens and industries.

See the article here: European CEOs Explore Migration, the EEA, and Executive Education

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Libor probe continues in New York

Category : Business

A judge tossed many claims in the biggest Libor-related class action suit, but New York attorney general Eric Schneiderman has not given up his pursuit.

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Citigroup strikes $730m settlement

Category : World News

Wall Street investment bank Citigroup agrees to pay $730m (£484m) to settle a class-action suit by bondholders brought over the financial crisis.

Continued here: Citigroup strikes $730m settlement

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Cashback credit cards ‘double’

Category : Business

Cashback deals are becoming more common in reward schemes for credit card customers, research indicates, but there are warnings it may not suit everyone.

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Kilopass Plans to Appeal the Summary Judgment Ruling in Its Patent Infringement Case Against Sidense

Category : Stocks

SANTA CLARA, CA–(Marketwire – Aug 17, 2012) – Kilopass Technology Inc., a leading provider of semiconductor logic non-volatile memory (NVM) intellectual property (IP), today announced that it plans to appeal the summary judgment ruling recently issued in its patent infringement suit against Sidense. Kilopass’ decision to appeal rests in its conviction that Sidense’s products are infringing on Kilopass’ patents. The summary judgment order in this case relies on issues that are under dispute and should be decided by a jury as a matter of right.

Excerpt from: Kilopass Plans to Appeal the Summary Judgment Ruling in Its Patent Infringement Case Against Sidense

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Life Partners Holdings (LPHI) responds to the Texas Attorney General, saying they "deny the allegations in the strongest possible terms." The Texas AG filed suit against Life Partners and its officers, alleging it made various…

Category : Stocks, World News

Life Partners Holdings (LPHI) responds to the Texas Attorney General, saying they “deny the allegations in the strongest possible terms.” The Texas AG filed suit against Life Partners and its officers, alleging it made various misrepresentations about the life expectancies of the insureds. The suit seeks a temporary restraining order and appointment of receiver based generally on allegations that Life Partners’ life settlements are securities under Texas law. Shares -5% AH. Post your comment!

The rest is here: Life Partners Holdings (LPHI) responds to the Texas Attorney General, saying they "deny the allegations in the strongest possible terms." The Texas AG filed suit against Life Partners and its officers, alleging it made various…

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The art of making monsters

Category : World News

Good news for monster fans: Not one, not two, but three separate tokusatsu exhibitions are stomping their way through downtown Tokyo as you read these words.
While you may never have heard the word “tokusatsu,” you are likely familiar with what it is. A contraction of the Japanese words tokushu and satsuei, it means “special effects.” Although it can be used to refer to any effects-heavy production, in common usage it refers to the decidedly analog, handmade “rubber suit” effects seen in “Godzilla” movies, the “Ultraman” series, and “Power Rangers”-style shows.

Originally posted here: The art of making monsters

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Canadian anti-smoking advocates urge plain packaging laws

Category : World News

Anti-smoking activists are urging Ottawa to follow suit after Australia’s highest court upheld the world’s toughest tobacco law on Wednesday.

Continued here: Canadian anti-smoking advocates urge plain packaging laws

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Baltimore and the Libor scandal: ‘We can’t leave any money on the table’

Category : Business

The hard-hit city says it had no choice but to file a class action lawsuit, putting a human face on the far-reaching scandal

A little over two years ago, Stephanie Rawlings-Blake had never heard of Libor. The mayor of Baltimore had plenty of other things to keep herself occupied. Elected in 2010, she was dealing with the aftermath of a financial crisis that had left her city with the budget deficit of $120m and the cost of cleaning up the worst two-day snowstorm in the city’s history. And then she found out the credit crunch had come back to take another bite out of the city’s finances.

Baltimore is lead plaintiff in a class action lawsuit that alleges that banks including Barclays, Bank of America, HSBC, JP Morgan and UBS conspired to fix a set of key interest rates – the London Interbank Offered Rate, or Libor – costing the city millions in the process. So far, the Libor scandal has played out mostly under the radar in the US. But now it is gaining traction in Washington, and Baltimore’s suit is putting a human face on a scandal legal experts predict could end up being the most costly of the credit crisis.

Firefighters, services for the elderly, school programmes – all these and more are being cut as a direct result of the actions of colluding bankers, Rawlings-Blake claims.

According to the court documents, Baltimore bought “tens of millions of dollars worth of interest-rate swaps” during the period when the alleged fixing took place. The suit, filed with top Washington law firm Hausfeld, alleges that between August 2007 and May 2010 the defendants conspired to suppress Libor below the levels at which it would have been set had they accurately reported their borrowing costs. Those manipulations had “severe adverse consequences” for Baltimore and others, according to the suit. Other cities are watching carefully and a raft of litigation is expected in the US.

The city had no choice but to fight, said Rawlings-Blake. “We are faced with closing fire companies, closing recreational centers … We have services that have been cut year after year; services that people depend on. Opportunities for young people, the cleanliness of the city: everything is affected by the budget,” she said.

“We can’t afford to leave money on the table,” she said.

Baltimore has a reputation for taking on the banks. Earlier this month Wells Fargo settled a suit launched by the city four years ago that alleged the bank discriminated against black and Latino mortgage borrowers.

“It’s certainly disappointing, and I understand why a lot of people have lost a lot of trust and faith in the financial institutions. They are pretty much playing fast and loose with the people they are meant to protect,” she said.

“We stand up for ourselves,” she said. “One thing about Baltimore is that we are not afraid of a fight. There are too many needs we have in this city.”

But this case looks set to put all others in the shade. Policymakers around the world have called for an overhaul of the system that underpins $500tn of contracts globally – everything from home loans to arcane derivatives.

Stephen Bainbridge, a professor of law at UCLA, said the case was “one of the worst examples of abuse of trust that I can remember in 25 years of following corporate governance”. Given the scale of Libor’s influence, Bainbridge said, this could emerge as “the defining financial scandal of the meltdown”.

Bainbridge believes the justice department may build an anti-trust case against those involved that could ultimately lead to a settlement as large as that agreed in the US’s massive suit against the tobacco industry. Anti-trust laws allow three times the damages for those convicted of collusion.

But he believes a suit like Baltimore’s may prove harder to prove. The city’s lawyers will have to prove direct “loss causation” – in other words, that bankers allegedly fixing rates in London directly hit Baltimore’s bank balance.

“Proving that chain of events can be difficult,” said Bainbridge.

Baltimore city solicitor George Nilson said he was confident there was a good case to answer. He pointed out that the process of discovery – when the city gets hold of internal emails and documents from the bank – had not even started yet. Since the suit was filed he said he had “not heard anything that makes me feel less enthusiastic about the case.”

Nilson said he had been taken aback by the massive level of interest in the case, especially from the European press. He said he expected that interest to grow as people in the US became more aware of the scandal. “What it says to the defendants is Libor is no longer something tucked away in a dark corner of the room.”

He said that his one fear was that just as some banks were too big to fail, this could be a case that was “too big to try”.

Paris fashion week continues trend for men’s statement suit

Category : Business

The corporate look appears to be over as patterns and primary colours dominate the international catwalks

The sober suiting chosen by prime ministers, presidents and bank bosses, such as Barclays’ Bob Diamond, appears to be over. On the international catwalks this week the message for spring/summer 2013 is loud and clear: the statement suit is the new navy.

In Paris on Friday, cult fashion label Balenciaga showed a striking tomato red suit made in a silk cotton worn with white buckle boots. Junya Watanabe’s spring/summernew collection featured pink and bold check suits worn with cropped trousers or shorts.

Ann Demeulemeester, queen of gothic romance, featured a double-breasted velvet suit in sunset orange. The statement suit has been gaining momentum in the trend stakes since London kicked off the spring/summer 2013 menswear season earlier this month where patterned suits were key looks at labels such as Jonathan Saunders and Agi & Sam.

Last weekend in Milan, Gucci’s menswear collection opened with an apple green single-breasted suit followed with head-to-toe suits in primary colours, including yellow and red.

In Paris on Thursday the excellent Dries Van Noten show added a mix-and-match aesthetic, featuring a gold double-breasted jacket styled with modern camouflage print shorts.

Backstage at Dries Van Noten, David Walker Smith, buying director of Selfridges, confirmed the department store would be buying into the statement suit next season.

He said: “From block colour suits to Dries Van Noten’s jackets in camouflage or patterned suits worn with shorts as seen at Jil Sander, next season is very much a play on the suit.” The Sander label are producing a trouser suit version of the catwalk patterned shorts set specifically for Selfridges.

Bold tailoring and print trousers are already doing a brisk trade on the shop floor of the department store this summer. Burberry pattern trousers have sold out while next season’s items, such as Alexander McQueen’s bold check suits, are performing well.

“Men are wanting to further differentiate themselves from the corporate world,” said Adrian Clark, style director of Shortlist. “It is seriously unfashionable to be a City boy at the moment, what with everything that is going on economically and politically.”

Luke Day, fashion director of GQ Style, said the statement suit look was already happening on the high street.

“If you look at H+M, Topman and Asos they are awash with block colour and print tailoring. The young tastemakers have already adopted this trend and this has influenced designers, rather than the other way round.”

Two trends that seem to have united the male front row and the shopping buying public are colourful trousers and boldly printed shirts. Jeremy Langmead, editor-in-chief of Mr Porter, has been wearing yellow Jil Sander trousers during the shows while M&S earlier this year reported a hike in the sales of Hawaiian print shirts.

Printed trousers also appear to be coming back. Prada included lurid floral golf trousers in their current summer collection while stores such as Topman are selling smart and skinny Aztec patterned trousers.

“There’s a new confidence in men’s fashion,” said Walker Smith of the rise of these bold fashion pieces that perhaps 10 years ago might have been worn by only a handful of men.

His theory is backed up by a recent consumer report by American Express that claimed that Generation Y men (those born after 1982) have increased their spending on fashion faster than an other generation. It also said that while men shop less often than women, they spend on average 24% more per transaction.