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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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US tax chief resigns amid scandal

Category : World News

President Barack Obama announces the head of the US tax agency has quit, after it emerged his staff singled out conservative groups for extra scrutiny.

Originally posted here: US tax chief resigns amid scandal

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Amazon paid £2.4m in tax in 2012

Category : Business, World News

Amazon’s UK unit paid £2.4m in corporation tax last year, despite making sales of £4.3bn, the online retailer’s accounts show.

See original here: Amazon paid £2.4m in tax in 2012

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Private members’ ballot: Politics live blog

Category : Business

Andrew Sparrow‘s rolling coverage of all the day’s political developments as they happen, including the private members’ ballot and Google giving evidence about tax avoidance to the public accounts committee

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Cold snap boosts profits at British Gas owner

Category : Business

But Centrica says it will try to avoid more price rises for ‘as long as possible’ as it faces protests at its annual meeting on Mondayx

British Gas-owner Centrica enjoyed a huge boost from the cold snap, as consumers turned up the heating, driving consumption up by almost a fifth compared with last year.

The company, which raised prices by 6% shortly before the harsh winter set in, said any benefit from the “exceptionally cold weather” would be used to prevent further price rises “for as long as possible”.

Finance director Nick Luff said: “The fact is we make a margin selling gas. We will have made a higher margin because of the extra volume and we will use that to keep prices down during the rest of the year.”

But he said the cost of implementing the government’s energy efficiency scheme and higher transport costs would hit profits, while the gas price remains unpredictable – meaning there may be little extra to invest in keeping prices low.

Energy comparison and switching service uSwitch.com still welcomed the news at a time when consumers are struggling to pay bills. Ann Robinson, director of consumer policy at uSwitch.com, says: “British Gas has recognised the pressure facing customers and is using the financial gain from the extended cold weather to maintain its competitiveness. In plain English, this means that British Gas customers should expect no further increase in prices at least for the foreseeable future.”

Centrica faces protests at its annual meeting in London on Monday afternoon, as campaigners gather to challenge the company on price hikes, multimillion pound payouts to British Gas bosses, and plans for a new generation of gas power stations instead of cheaper, clean renewable energy.

Households’ average gas consumption was 18% higher in the first four months of 2013, compared with the same period last year, while electricity consumption was 3% higher. Residential customers in the UK also rose by 28,000 in the first four months of the year, which Centrica put down to competitive pricing and good customer service.

The company said this “strong performance” put it on course to meet expectations and deliver full-year profits before tax of £602m, down 1% on last year.

As an oil and gas producer, Centrica also benefited from higher commodity prices, and the group’s full-year earnings after tax are expected to be 2% higher at £1.4bn.

Tax chief wants more transparency

Category : World News

Leading UK tax expert John Dixon warns companies that they can no longer ignore public unease about tax avoidance.

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Sainsbury’s sales up as profits fall

Category : Business

Sainsbury’s reports a slight fall in full-year pre-tax profits, despite rising sales, and confirms it is taking full ownership of Sainsbury’s Bank

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Senate backs online sales tax plan

Category : Business

An online sales tax bill heads to the US House of Representatives after Senate passage, as brick-and-mortar shops call for a “level playing field”.

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Greece making ‘progress’ on economy

Category : Business

Debt-laden Greece makes progress to improve its finances, but must do more to fight the “notorious” tax evasion, the International Monetary Fund says.

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HSBC profits surge as bad loans fall

Category : World News

HSBC almost doubles pre-tax profits to $8.4bn (£5.4bn) in the first three months of 2013 after trading conditions in the bank’s key markets improve.

Excerpt from: HSBC profits surge as bad loans fall

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The investment trend hedge funds want kept secret

Category : Stocks

Hedge funds are scooping up personal property tax liens from municipalities at a quick pace after big banks decided it was too risky.

Read the rest here: The investment trend hedge funds want kept secret

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