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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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Morgan Stanley: Euro Rebound Winner

Category : Business

NEW YORK (TheStreet) — Morgan Stanley was the winner among the largest U.S. financial names on Friday, with shares rising over 3% to close at $13.49.

The Dow Jones Industrial Average rose 1.5% and climbed over 13,000 for the first time since May 8, while the S&P 500 and NASDAQ Composite indexes both saw gains of 2%, after German Chancellor Angela Merkel and French President Francois Hollande issued a joint statement saying that “Germany and France are deeply committed to the integrity of the eurozone,” and that the two countries “are determined to do everything to protect the eurozone.”

The joint statement followed Thursday’s statement by European Central Bank President Mario Draghi, that “the ECB is ready to do whatever it takes to preserve the euro,” and “believe me, it will be enough.” …

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Dow Soars on Draghi’s Euro Pledge

Category : Business, Stocks

NEW YORK (TheStreet) — The major U.S. averages were surging in early trading Thursday after European Central Bank President Mario Draghi pledged to do everything possible to guarantee the survival of the eurozone.

A fall in initial jobless claims and a rise in durable goods orders in the U.S. also was encouraging the risk rally.

The Dow Jones Industrial Average was rallying by 235.37 points, or 1.86%, at 12,911. The S&P 500 was up by 22.65 points or 1.69%, at 1360 and the Nasdaq was surging by 50.39 points, or 1.77%, at 2904. …

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Stocks Close Positive Week on Down Note

Category : Business

NEW YORK (TheStreet) — U.S. stocks finished sharply lower Friday as soaring Spanish borrowing costs renewed concerns about Europe’s debt crisis.

The sour market mood prompted a broad decline across risk asset classes as well as a sharp spike in bond prices with the five-year Treasury yield touching a record low. The latest round of earnings reports were mixed as well, lending little support for equities. Still, the major indices did finish higher for the week.

The Dow Jones Industrial Average shed 121 points, or 0.93%, to close at 12,823. The move pushed the blue-chip index back into negative territory for the month. For the week, though, the Dow rose 0.36%, and the year-to-date gain sits at 4.95%. …

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Stocks Slump on Earnings, Eurozone Jitters

Category : Business

NEW YORK (TheStreet) — The benchmark U.S. stock indices retreated Monday amid nervousness about second-quarter reporting season and rising Spanish bond yields.

The Dow Jones Industrial Average closed down 36 points, or 0.28%, at 12,736. The blue-chip index, which has now fallen in three straight sessions, did catch a slight bounce toward the end of session to finish roughly 50 points above the day’s low of 12,686.

The S&P 500 dipped 2 points, or 0.16%, to finish at 1352, and the Nasdaq shed nearly 6 points, or 0.19%, to settle at 2931. …

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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 Lower After Fed Keeps Twisting

Category : Business, Stocks

NEW YORK (TheStreet) — Stocks were down late in a choppy session Wednesday as investors expressed mild disappointment with the Federal Reserve’s much-anticipated decision to prolong its Operation Twist bond maturity extension program.

The major U.S. equity indices initially endured a sharp sell-off following the announcement then turned slightly positive before slumping again as Fed Chairman Ben Bernanke met the press. The chairman didn’t offer up many surprises, staying circumspect about what it would take for the central bank to embark on another round of quantitative easing and acknowledging that Europe’s woes have slowed U.S. economic growth.

“We are hopeful that Europe will take additional measures and do what it takes to stabilize the situation,” Bernanke said, adding that he believes eurozone policymakers have a very strong incentive to “get it right.” …

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10 Reasons to Be a Bull, From a Stock Market Bear

Category : Business

By Jeff Cox, CNBC.com Senior Writer

NEW YORK (CNBC) — Finding reasons not to like the current stock market doesn’t take much work, as the faltering U.S. economy, European debt crisis and looming fiscal cliff makes the job pretty easy.

But devising a list to be bullish — after one dismisses the usual “stocks are cheap” and “best house in a bad neighborhood” platitudes — takes some work, especially if your natural inclination is that the market is heading lower. …

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Bank Watchdogs to Loosen Rules if Europe Tanks: Report

Category : Stocks

NEW YORK (TheStreet) — International regulators could ease the liquidity requirements under new international banking capital rules in response to the European crisis, the Wall Street Journal reported, citing people familiar with the matter.

New Basel capital rules designed to make the international financial system safer require banks to hold more capital against risky assets and also step up liquidity in order to deal with cash crunches at the time of crisis.

The rules kick in from next year and will have to be fully implemented by 2019. …

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JPMorgan’s Dimon Leaves Shareholders Hanging

Category : Stocks

NEW YORK (TheStreet) –JPMorgan Chase CEO Jamie Dimon answered plenty of questions on the bank’s trading loss in his testimony before the Senate Banking Committee on Wednesday, but shareholders were still left hanging on the one question that really matters to them.

What is the ultimate size of the trading loss?

Estimates by some analysts now top $5 billion, according to press reports, but the CEO refused to comment on details about the size of the trades and how they were being unwound in Senate testimony, saying it would compromise the bank’s interests. …

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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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