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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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VIDEO: 180 degree television for the home?

Category : Business

BBC News takes a look at a new filming and projection technique which aims to create an enhanced, immersive experience, augmenting traditional screen viewing.

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Birst and ABM Systems Partner to Bring Enterprise-Class BI to Australia

Category : Stocks, World News

First Australian Deployment of Birst Takes Mere Weeks to Deliver Cloud-Based BI Success

More here: Birst and ABM Systems Partner to Bring Enterprise-Class BI to Australia

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Boeing Dreamliner takes off again

Category : Business

An Ethiopian Airlines 787 Dreamliner takes off from Addis Ababa, the first commercial flight by the Boeing aircraft since all 787s were grounded in January.

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Apollo sued by ex-placement agent

Category : Stocks

Private equity’s placement agent saga takes a strange twist.

Continued here: Apollo sued by ex-placement agent

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Kipper Williams on ex-HBOS chief James Crosby

Category : Business

‘Crosby gives up knighthood … Crosby takes pension cut … Crosby knighted again for taking pension cut’

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REPEAT: Earth Hour-BMO Survey Shows 51% of Canadians Surprised by Costs of Utilities

Category : Stocks, World News

Turn the lights down low – Earth Hour takes place today between 8:30 and 9:30 p.m. local time

- BMO provides tips for homeowners on how to reduce their environmental footprint and overall utility bills

Read more: REPEAT: Earth Hour-BMO Survey Shows 51% of Canadians Surprised by Costs of Utilities

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BP appeal over ‘absurd’ payouts

Category : World News

Oil giant BP takes legal action in the US to stop “fictitious” and “absurd” compensation payouts over the 2010 oil spill in the Gulf of Mexico

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Air France-KLM posts big loss

Category : Business

Air France-KLM sees losses widen in 2012 as fuel costs rise sharply, but revenues rise as its restructuring programme takes effect.

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Barclays strategic review: for a culture to change, people must change

Category : Business

As new boss Antony Jenkins prepares to reveal results, five experts give their views on how to change culture of UK banks

Sir Martin Sorrell Chief executive, WPP

Whatever the organisation, history and structure make a difference. Trying to change “culture” (and I don’t like the word, because people use it as an excuse not to change) is more difficult in a multi-branded company that has grown quickly by acquisition (like WPP), than a uni-branded company that has grown organically and slowly (like Goldman Sachs or McKinsey).

In any event, what is needed, in my view, is a chairman/chief executive with a strong, simple vision clearly communicated internally and externally and rigorously agreed with and implemented.

Internal silos and politics, whether functional or geographic, have to be overcome. It will take time, and persistence is required. Reaching deep into the organisation helps as the deeper you go, you generally receive more buy-in. Usually the better the people are, the more difficult it is to convince them and the less co-operative they are. Keep at it.

Samir Brikho Chief executive, Amec

Turning an unfocused, underperforming company into a dynamic consulting, engineering and project management business required a clear vision, a strong, transparent strategy and, importantly, good communication.

As a leader at a time of change, personal style is important. You have to be clear and open in communicating what you want to achieve. You have to be humble, knowing when to listen to the views of others. You need to set ambitious goals, drawing out a previously unimaginable level of performance.

Together, we set about reducing costs, improving margins and focusing on what we are good at. Amec today is a very different company, operating in the strong-end markets of oil and gas, mining, clean energy and environment and infrastructure, investing in customer relationships and employee development and engagement, and looking for growth, including in Latin America, the Middle East and Australasia.

Lord (Digby) Jones Ex-CBI head, ex-trade minister

It has to come from the top, that is the first and most important thing. Whatever you say you have to do. You’ve got to walk the talk. But it is not just about behaviours, the rewards also have to have a different focus and on different things. Although money is important, more longterm measures are needed, holiday say or other things such as training. Money – business is about making profit – is important but it is about what you need to do to get the reward.

In terms of timing, it takes years, not weeks. Give yourself three to five years. I always say it is about QED. The Q stands for the quality of what they are doing, so you go to the pub and can say you are really pleased with what you do. E is about the environment in which they work. D is the dosh. Q is the most important part.

Colin Mayer Professor, Saïd Business School

Barclays urgently needs to re-establish trust among its customers, employees, investors and the public. To do this it needs to set out what it is going to do that those parties will value. We have completely lost sight of what banks are supposed to be doing except earning huge returns for their shareholders and executives at the expense of everyone else.

Having defined the real purpose of the bank, it should determine how it is going to deliver. What is it going to do to demonstrate credibly to savers and borrowers that it is not there to exploit them but to provide truly dispassionate, objective advice and assistance? How will it commit to persist with providing this when the next financial crisis strikes and it has to shrink expenditure? How will it reconcile these lofty goals with the interests of its shareholders solely in the returns on their shares? If it cannot answer these questions then no amount of rhetoric or good intentions will do anything to reform the bank.

An effective board is capable of acting decisively in aligning the interests of those running the bank with the wider communities that they service. It takes imagination and determination and it needs a board and management committed to achieving it. That unity of purpose may involve some managerial changes but more significantly it is what strong leadership can realise with the chief executive at the helm as its forthright champion. Without that, Barclays’ directors can look forward to the ever tightening noose of regulation doing it for them.

Louise Cooper Independent analyst

I believe strongly that corporate culture is set by executives and management – their behaviour and attitudes implicitly tell employees what is acceptable and important and how to behave. Standards and morality trickle down an organisation.

If a firm has been proven to be highly toxic then bosses must leave. That is the first rule. It is very difficult to reprimand an employee for bad or illegal behaviour when it’s been previously sanctioned, even encouraged or copied from bosses. Nothing can change without executives leaving.

Secondly, the new team must publicise there has been a change from the old world order. This is what the new boss at Barclays has done. He has sent a clear message to staff that if they don’t like the new morality then they should leave. This is also important for clearing out the middle managers who refuse to adapt.

Thirdly, follow the advice of the [former] New York mayor Rudy Giuliani and adopt a “zero tolerance policy”. The new standards of behaviour must be rigorously enforced. Fourthly, reward those who embrace the new rules and penalise those who don’t – the carrot and the stick.

And finally, for those seeking to make the changes, it is important to realise it is a long process. It is a sad comment on human nature that bad behaviour spreads like wildfire through an organisation and yet good behaviour takes for ever to develop. Leaders get the organisations they deserve.

Jill Treanor

BrightScope Announces Its Fourth Annual Year-End Top 30 401k Plans List

Category : World News

Newcomer Marathon Oil Company Takes This Year’s Top Spot, Bumping Last Year’s Leader Southwest Airlines to No. 3

Link: BrightScope Announces Its Fourth Annual Year-End Top 30 401k Plans List

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