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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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Honda to supply 2015 McLaren engines

Category : Business, World News

Japanese car manufacturer Honda will return to Formula 1 in 2015 as engine suppliers to the McLaren team.

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Frames Bowling Lounge Announces the Details of Its Corporate Challenge for Summer 2013

Category : World News

Summer Season Is a Time for New Hires and Interns to Get to Know Their Team; Networking Has Never Been Easier, With Summer Team Sports Available at Venues Like Frames Bowling Lounge on Ninth Avenue in New York

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Exclusive: New York City’s newest VC firm

Category : Business, Stocks

Most of AOL Ventures team spins out.

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Stephanie McGovern: Why quotas are dangerous and undermine women’s credibility

Category : Business

The BBC’s business correspondent recalls being told: ‘I didn’t realise people like you were clever’ and explains why blagging it is a good idea

I am a young woman, with a regional accent, from a working class family, who has had a pretty standard education. So far, so ordinary. But in the places I’ve worked, one or more of these things would put me in the minority.

When I was 18 I joined Black & Decker as part of a pre-university ‘year in industry’ scheme. At that time it was a business full of men who had been there for years. When I turned up with my youthful enthusiasm and stilettos I was a novelty. Some tried to chat me up; most ignored me. I’d gone from being top dog in school to underdog in the workplace, so I made it my mission to show them that I was useful.

That, along with some cheeky banter, eventually won them over. The team accepted me as one of their own and the success of my work there lead to me winning the ‘Young Engineer for Britain’ award. After that I got interviewed a lot by the media. I was a journalist’s dream case study; a gobby girl with an accent who was good at engineering.

Through my media appearances, I managed to wangle a part-time job in the BBC current affairs department, which I did whilst studying for my science degree. Being a woman wasn’t a novelty to my BBC bosses — lots of women work in the media – this time I stood out because I had a northern accent.

I remember once at the end of a BBC job interview the manager said to me: “I didn’t realise people like you were clever.” I don’t think he was being intentionally nasty. At that time in the BBC he was surrounded by clones of himself, give or take some facial hair and glasses. He had never worked with anyone ‘like me’ before and so thought he was taking a risk by employing me. Later I found out that he’d also told the rest of my team that ‘someone very different was joining who would stir things up a bit’. Fundamentally though, I’m not any different, I just talk differently.

The problem in business isn’t that women are overlooked because they are women, it’s that most people subconsciously look to employ a mini-me. It’s not a gender issue, it’s about diversification full stop. It’s hard to change that mindset and it hits women particularly hard because men historically have always been the recruiters.

Recently I was involved in a debate at Macquarie Bank looking at how businesses can make their employee pool more diverse. One of the panellists was Noreen Doyle, a senior executive with over 40 years experience as a business leader. She suggested that for women to do well they need to take on a more male mindset and ‘blag it’. She added: “There’s a 80:20 rule. A job opens and women who feels she meets 80% of the criteria, applies. A man will say, ‘I have 20% of the criteria – I’ll learn the rest on the job.’ “

When I joined BBC Breakfast I was surprised by the number of viewers who felt that the BBC was doing something radical by putting me on national news to talk about business. I wasn’t what they deemed a typical BBC reporter. There was a misconception that I was there to fill some type of BBC northern quota. Yet I had been working for the national news for 10 years and been involved in making lots of our most high profile programmes. If I were a stick of rock I’d have ‘BBC’ written right through me.

This is why quotas for women in business can be dangerous, because they can undermine the credibility of the women who get top jobs. It’s a view that I’ve found is shared with other women at the top of their game. Eithne Wallis told me that in her role as the founding director general of the National Probation Service, she didn’t support quotas but said that without diversity targets the status quo would prevail: “The achievement of diversity in the workplace is critical to its effectiveness as well as being an ethical issue.” But, she added: “Positive discrimination was absolutely not allowed. It was instead, about creating the culture, end to end systems, and level playing fields to ensure that appropriate access and advancement was made available to all.”

There is an assumption that if you’re in the minority in the workplace then you’ll have a harder life than most. Personally I have had a wonderful career so far, but what has been vital is having champions; people in the business who mentor you, but also sing your praises to others. Mine have fought battles for me in work and taught me that if you know what you’re talking about and you work hard then you don’t need to fit a preconceived mould. Your genetic makeup and upbringing is irrelevant, it’s how you use your ability that counts.

Stephanie McGovern is business correspondent for BBC Breakfast

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Why Not Experience Being a Holiday Home Owner for a Day?

Category : Stocks

HEMEL HEMPSTEAD, UNITED KINGDOM–(Marketwired – April 15, 2013) - Haven and Willerby, a leading holiday home manufacturer, are offering that chance on Saturday 20th April across all of their 34 parks. Drop by for a BBQ and to meet the team and other owners. Have a look around the park’s facilities and have a nosey into some of the new holiday home models!

Originally posted here: Why Not Experience Being a Holiday Home Owner for a Day?

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Northern Power Systems Expanding Commitment to Wind Turbine Market in Italy

Category : Stocks

Dedicated Mediterranean Region Applications Engineer Added to Team

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Murray targets India and Middle East

Category : Business

Two major sports management firms team up to win more commercial endorsements in India and the Middle East for UK tennis player Andy Murray.

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Vodafone and China Mobile team up

Category : Business

The two biggest telecommunications companies in the world team up to bid for mobile licences in Burma, as the country continues to open up.

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Nimble Appoints Eric Quanstrom as CMO/VP, Marketing & Sales to Drive Expansion

Category : World News

Social Relationship Management Startup Nimble Expands Management Team to Build on Leadership Position, Scale Foundation of Success

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Banker denies responsibility for JP Morgan losses

Category : Business

Ina Drew blames deception by London team for ‘London Whale’ trading incident, which saw company lose £4bn

Ina Drew, the former top banker who oversaw JP Morgan’s London Whale trading losses, insisted that she was not to blame for the $6.2bn (£4.1bn) black hole that ended her 30-year career.

During hostile questioning in a US Senate hearing, Drew said her oversight had been “reasonable and diligent” and blamed the problems on “deceptive conduct by members of the London team”.

Drew, who was one of Wall Street’s highest-paid bankers, was head of the “chief investment office” that oversaw the London trading operation where the so-called London Whale trading incident took place. The incident is so called because a trader named Bruno Iksil, known as the London Whale because of the size of the positions he took, made a bad bet on derivatives positions. The Senate investigation found Iksil had objected to the directives of his bosses over the trades and called their instructions “idiotic”.

“Some members of the London team failed to value positions properly and in good faith, minimised reported and projected losses, and hid from me important information regarding the true risks of the book,” Drew said.

JP Morgan was mauled by members of the Senate subcommittee, which criticised chief executive Jamie Dimon for withholding information from regulators as the bank’s London losses mounted.

The bank had snubbed regulators, manipulated documents and flouted its own risk rules as it racked up losses, senators said.

The hearing, chaired by retiring Democratic senator Carl Levin, came a day after the committee published a damning 300-page report on JP Morgan’s handling of the London Whale trade. “Firing a few traders and their bosses won’t be enough to stanch Wall Street’s insatiable appetite for risky derivative bets or stop the excesses. More control is needed,” said Levin in his opening statement.

“The American people have already suffered one devastating economic assault rooted largely in Wall Street excess, and they cannot afford another. When Wall Street plays with fire, American families get burned. The task of federal regulators, and of this Congress, is to take away the matches. The Whale trades demonstrate that task is far from complete,” he said.

The committee heard that Dimon temporarily withheld key data from the regulator, the Office of the Comptroller of the Currency, as the bank’s trading problems grew. Executives said the bank was concerned that information had been leaked in the past. “I’m not sure that there are many organisations or institutions that could get away with such a thing,” said Senator John McCain.

Douglas Braunstein, JP Morgan’s chief financial officer, said: “Senator, the report in question, I am not certain, I am not aware, if it was a report required to be sent to regulators.”

According to the senate committee, JP Morgan changed the model it used to measure the risks it was running shortly before the massive losses were disclosed. The change gave the appearance of halving the risk being taken by JP Morgan even as the bank’s London traders were taking ever riskier bets. Dimon dismissed press releases about the mounting losses as nothing more than a “tempest in a tea cup”. Levin suggested that the bank started trying to aggressively mark down its losses.

Levin asked Braunstein whether it was appropriate for the bank to attempt to minimise its losses. Braunstein denied that they did this. Levin brought up a transcript of a conversation between Drew and Javier Martin-Artajo, who supervised the London traders.

“It’s absolutely fine to stay conservative, but it would be helpful, if appropriate, to get … to start getting a little bit of that mark back,” she said. Drew said that she was “challenging him” to show that the position was correct with data.

“But you used the word helpful. Right?” said Levin. “Tweaking is not a prediction or a hope, by the way – tweaking is changing something.

“And I hope the guidance that you would give would be against tweaking,” he said. “The suggestion was that he tweak something to make the numbers look better.”

The Senate hearing follows JP Morgan’s own investigation in January, which put the blame on Drew for failing to be sure that her team understood the traders.JP Morgan’s acting chief risk officer, Ashley Bacon, said the bank had taken many actions to make sure that something like this could not happen again.

What they said

Former JP Morgan banker Ina Drew

“I did not, and do not, believe I bore personal responsibility for the losses … Some members of the London team failed to value positions properly and in good faith; minimised reported and projected losses; and hid from me important information regarding the true risks of the book.”

Senator Carl Levin “If derivatives books can be cooked as blatantly as they are in this case without breaking the rules, then the rules need to be revamped.”

Senator Levin to Drew “You said Jamie Dimon [JP Morgan's chief executive] knew about all the … trading. Is

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