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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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Trump ‘advert complaints’ upheld

Category : Business, World News

Complaints about newspaper adverts commissioned by the Trump Organisation showing broken and rusting wind turbines are upheld.

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Stock sectors that could do well if Democrats win in November are outpacing those that favor Republicans if they get control of the White House and Senate, according to an index created by LPL Financial. The move towards Democrats started back in…

Category : Stocks

Stock sectors that could do well if Democrats win in November are outpacing those that favor Republicans if they get control of the White House and Senate, according to an index created by LPL Financial. The move towards Democrats started back in April and May,” says LPL’s Jeff Kleintop. But since the Supreme Court upheld health care legislation in June, it’s been more dramatic. 3 comments!

More: Stock sectors that could do well if Democrats win in November are outpacing those that favor Republicans if they get control of the White House and Senate, according to an index created by LPL Financial. The move towards Democrats started back in…

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Pennsylvania Judge Keeps Voter ID Law Intact on Its Way to Higher Court – New York Times

Category : Stocks


New York Times
Pennsylvania Judge Keeps Voter ID Law Intact on Its Way to Higher Court
New York Times
A Pennsylvania judge on Wednesday declined to block a new state law requiring specific kinds of photo identification to vote. Liberal groups, arguing that minorities and the poor would be disproportionately deprived of the ballot, said they would
Judge Allows Voter-ID Law to ProceedWall Street Journal
Pennsylvania voter-ID law upheldUSA TODAY
Judge won't halt Pennsylvania voter ID lawFox News
Washington Post

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Hedge funds bet on Obamacare

Category : Stocks

Dan Loeb and David Einhorn both loaded up on insurance stocks in the second quarter. But the sector has been mixed this year even though the Supreme Court upheld Obamacare.

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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.

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Australia court backs tobacco law

Category : World News

An Australian court has upheld the government’s new law on mandatory plain packaging for cigarettes in the country.

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Health care stocks divided after ruling

Category : Stocks

Healthcare stocks were sharply divided Thursday, with hospital stocks rallying after the Supreme Court upheld President Obama’s healthcare reform bill.

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Obama campaign seeking to box Romney in with healthcare ruling – Los Angeles Times

Category : Stocks


USA TODAY
Obama campaign seeking to box Romney in with healthcare ruling
Los Angeles Times
While President Obama celebrated a victory on policy, the Obama campaign is treating the Supreme Court's decision on healthcare reform as another chance to raise questions Mitt Romney's record and his plans for the country and calling his response to
Local reaction: The Affordable Care Act is upheldBoston.com
Hospital stocks jump after health care ruling The Associated Press
Audible exhalation as Roberts reveals high court will uphold Obama's health Washington Post
Businessweek

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A Delaware court has upheld two patents in favor of Pronova’s heart drug Lovaza, ruling against Par Pharmaceutical (PRX) and Teva Pharmaceutical (TEVA). The ruling prevents Par and Teva from selling generic versions of Lovaza, which lowers very high…

Category : Stocks, World News

A Delaware court has upheld two patents in favor of Pronova’s heart drug Lovaza, ruling against Par Pharmaceutical (PRX) and Teva Pharmaceutical (TEVA). The ruling prevents Par and Teva from selling generic versions of Lovaza, which lowers very high levels of triglycerides in the bloodstream. 1 comment!

Read the original here: A Delaware court has upheld two patents in favor of Pronova’s heart drug Lovaza, ruling against Par Pharmaceutical (PRX) and Teva Pharmaceutical (TEVA). The ruling prevents Par and Teva from selling generic versions of Lovaza, which lowers very high…

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Barclays is UK’s most complained about bank, new figures reveal

Category : Business

Complaints about Barclays hit nearly 12,000 in last six months of 2011, with majority of cases concerning bank’s sales of PPI

Barclays was the most complained about bank in the second six months of 2011, figures from the Financial Ombudsman Service (FOS) showed.

Between 1 July and 31 December the ombudsman dealt with a total of 11,524 complaints about the bank, finding in the favour of customers in 84% of them. Of these cases 6,975 were about the bank’s sales of payment protection insurance (PPI), policies sold alongside loans and credit cards that promised to pay out in the event of illness or redundancy but were sold to many people who were unable to make a claim.

A further 3,474 were about banking and credit, while the remainder covered subjects from mortgages to investments.

However, Lloyds was the most complained about banking group over the six-month period, registering 20,310 complaints, against Barclays group’s 12,273, and complaints were down by a third across the board.

A total of 106,193 new complaints were made to the ombudsman – down from almost 150,000 during the previous six months. Over half were about just five financial services companies of the 100,000 businesses the scheme covers.

PPI was the product at the centre of 46,700 cases. This was a 53% decrease on the number received in the first six months of the year, but the ombudsman is currently receiving around 1,000 cases a day, and the ombudsman said the number was likely to grow.

The main driver for the fall was the decision by the Financial Services Authority (FSA) to extend the time big firms had to deal with mis-selling complaints around PPI, but as of January the time period has been moved back to eight weeks. As a result, the ombudsman said it expected to receive a record 165,000 PPI complaints in 2012/2013.

Complaints about mortgages were up by 38% on the first half of the year, accounting for 5,202 cases. A spokeswoman said that although customers were complaining about the day-to-day running of their mortgages, the underlying problems tended to be financial hardship.

The data shows that in the second half of 2011 the ombudsman service upheld an average of 72% of complaints in favour of consumers, compared to 47% in the first half of 2011 – reflecting the impact of PPI cases.

Natalie Ceeney, chief executive and chief ombudsman, said: “The proportion of complaints that we have upheld in favour of the consumer – ranging from 6% to 100% – clearly highlights the difference in PPI complaints handling across major businesses over this period.

“It also reflects the efforts made by some businesses to resolve quickly the hundreds of thousands of PPI complaints that had built up during the banks’ unsuccessful PPI legal challenge. We now hope to see all businesses who were involved in PPI mis-selling resolving their customer’s complaints fairly, properly and quickly.”

Antony Jenkins, chief executive of Barclays Retail and Business Banking said tackling complaints was the bank’s top priority: “Today’s figures show a 36% reduction in new FOS cases. This follows our 30% year-on-year reduction in FSA-reportable banking complaints, and confirms that our actions are delivering results for customers.

“We can and will do more to improve service and go further and faster to drive down complaints. We are aiming for further significant reductions in underlying complaints in the first half of 2012 as we continue on our journey to get it right first time, every time, for our customers,” he said.

Recently the ombudsman warned that consumers were still needlessly using claims management companies to handle their problems with PPI and collectively losing millions of pounds as a result.

Top five most complained about businesses 1 July-31 December 2011

Barclays Bank plc – 11,524 complaints, 84% upheld

MBNA Europe Bank Limited – 9,185, 94% upheld

Lloyds TSB Bank plc – 7,467, 87% upheld

Bank of Scotland plc – 6,082, 76% upheld

Santander UK plc – 5,439, 55% upheld

Top five most complained about business groups 1 July-31 December 2011

Lloyds – 20,310 complaints

Barclays – 12,273 complaints

MBNA – 9,903 complaints

Royal Bank of Scotland – 6,553 complaints

Santander UK – 6,202 complaints