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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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Stocks Plunge Ahead of Eurozone Summit

Category : Stocks

NEW YORK (TheStreet) — Stocks fell sharply Monday morning as a better-than-expected new home sales report failed to mollify investor anxiety about the potential outcome of the eurozone summit later this week.

The Dow Jones Industrial Average was shedding 153 points, or 1.21%, at 12,484. The S&P 500 was down more than 20 points, or 1.51%, at 1315, and the Nasdaq was plunging 50 points, or 1.73%, at 2842.

The Commerce Department reported Monday the U.S. new-home sales rose more than expected in May to a seasonally adjusted annual rate of 369,000 — the best levels going back to April 2010. …

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Stocks Rise, Buoyed by Hopes for Stimulus

Category : Business

NEW YORK (TheStreet) — U.S. stocks rose Friday as investors cheered the possibility that central banks would stand ready to coordinate a global liquidity boost if needed after the Greek elections.

“You get markets rioting and then policy makers respond; the market rallies and then the policy makers relax their pace of progress, then the market riots again,” said Michelle Gibley, director of international research at Charles Schwab. “It’s just this roller coaster of volatility that we continue to get every time we get some kind of news of a grand plan. Markets rally until we realize that the real decisions are just very difficult at this point.”

The Dow Jones Industrial Average closed up 115.3 points, or 0.9%, at 12,737. The index advanced 1.7% for the week and is up 4.5% in 2012. …

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Stocks Tumble on Eurozone Uncertainty

Category : Business

NEW YORK (TheStreet) — Stocks lost ground Wednesday as worries about the stability of the eurozone bubbled up once again.

The major U.S. equity indices swooned late in the day following reports that Greek banks are seeing elevated levels of withdrawals ahead of the country’s crucial general elections this weekend. The vote is being seen as a referendum on the austerity measures Greece will need to adhere to in order to remain part of the eurozone.

Adding to the concerns was news that Egan Jones cut its rating on Spain to CCC-plus from B. Reuters said the downgrade was the ratings agency’s fourth cut for Spain since April. …

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Stocks Plunge on Weak Jobs Report

Category : Business, Stocks

NEW YORK (TheStreet) — U.S. stocks were punished Friday after the government said the economy added far fewer jobs than expected, adding to concerns about a global slowdown.

The Dow Jones Industrial Average lost 275 points, or 2.2%, to close at 12,118, not far above a session low of 12,107. The blue-chip index, which is now negative for the year, endured its biggest one-day point drop of 2012.

The S&P 500 dropped 32 points, or 2.5%, to finish at 1278, breaking below 1280 for the first time since Jan. 13. The index has now slipped into correction territory, declining 10% from an intraday high of 1422 on April 2. …

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Stocks Stumble Late to Finish Lower

Category : Business, Stocks

NEW YORK (TheStreet) — U.S. stocks sold off ahead of the close to finish with marginal declines on Thursday, ending May on a fittingly disappointing note.

After a sour morning in the red, the major U.S. equity indices all battled back into positive territory late in the session following reports that the International Monetary Fund was prepping a contingency plan to rescue Spain if the country’s financial situation continues to deteriorate.

But the gains proved unsustainable ahead of Friday’s May jobs report. Thursday’s raft of economic data did little to build confidence, showing evidence of a disappointing pace of job creation and slower economic growth than initially thought. The IMF also discounted the reports that it’s planning a rescue loan for Spain; although stocks initially remained higher after that news. …

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Stock Futures Point Higher Before Housing Report

Category : Stocks

NEW YORK (TheStreet) — Stock futures were rising Tuesday ahead of the release of U.S. existing home sales data.

Futures for the Dow Jones Industrial Average were rising 24 points, 29.5 points above fair value, at 12,514. Futures for the S&P 500 were up 3.4 points, or 5 points above fair value, at 1319. Futures for the Nasdaq were up 8.3 points, or 7.6 points above fair value, at 2552.

The major U.S. stock indices all gained more than 1% Monday, rebounding from their worst weekly performance of 2012, as international leaders took steps to calm fears about the future of the euro. …

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Stock Futures Rise Amid Hopes for China Stimulus

Category : Stocks

NEW YORK (TheStreet) — Stock futures were pointing to a rebound on Monday as leaders at the G8 summit in Camp David voiced support for Greece’s continued membership in the eurozone and amid Chinese plans to stimulate growth in the second-largest global economy.

Futures for the Dow Jones Industrial Average were rising 58 points, 43.6 points above fair value, at 12,393 and futures for the S&P 500 were up 6.3 points, or 3.8 points above fair value, at 1297, pointing at a bounce for the index from a fourth-month low. Futures for the Nasdaq were up 14 points, or 5.1 points above fair value, at 2482.

U.S. stocks declined Friday, wrapping up the worst week for the markets in 2012, as Facebook was only able to muster a slight gain in its public debut and continued eurozone worries weighed on the broad market. …

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Stock Futures Mixed After Jobs Report

Category : Business

NEW YORK (TheStreet) — Stock futures were trading mixed Thursday after weekly initial jobless claims came in unchanged and as eurozone fears continue.

In Spain, a debt auction went relatively well but borrowing costs rose, highlighting worries about the country’s economy and Greek debt contagian concerns.

Futures for the Dow Jones Industrial Average were rising 12 points, or 7.5 points above fair value, at 12,586. Futures for the S&P 500 were up 0.1 points, or 0.3 points below fair value, at 1,322, and futures for the Nasdaq were down 0.5 points, or 2.9 points below fair value, at 2,557. …

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Stocks Tripped Up by Greek Political Disarray

Category : Business, Stocks

NEW YORK (TheStreet) — Stocks tumbled Monday as Greece’s inability to break a political impasse fueled speculation the country may eventually have to leave the eurozone.

Worries about the stability of the single-currency bloc were also being aggravated by Spain’s financial health, the outcome of local elections in Germany, and weak regional economic data.

The Dow Jones Industrial Average dropped 125 points, or 1%, to close at 12,695. The blue-chip index ranged from 12,661 to 12,819 during the session. …

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Stocks Hang On to Snap Losing Streak

Category : Stocks

NEW YORK (TheStreet) — Stocks finished mixed on Thursday with the Dow Jones Industrial Average and the S&P 500 booking modest gains, but the Nasdaq unable to overcome Cisco’s deep decline.

Wall Street took a breather from the eurozone worries that have dented sentiment this week as Greece took steps to form a new government. The U.S. economic data also cooperated as weekly initial jobless claims held steady.

The Dow gained a mere 20 points, or 0.2%, to finish at 12,855. Still, the blue-chip index managed to snap a six-day losing streak, its longest since August 2011. Earlier in the session, the Dow traded as high as 12,932. …

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