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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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Cambodia: aftermath of fatal shoe factory collapse – video

Category : Business

Workers clear rubble following the collapse of a shoe factory in Kampong Speu, Cambodia, on Thursday

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Pension pots ‘saved from charges’

Category : Business

Workers automatically enrolled into a workplace pension will not see their pension pot reduced by charges from consultants, under government plans.

Read more: Pension pots ‘saved from charges’

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Bangladesh building collapse: safety fears grow as death toll mounts – video

Category : Business

Clothes workers in Bangladesh say the recent building collapse in Dhaka has made them concerned for their own safety

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Without Justice, No Fallen Worker Can Rest in Peace

Category : Stocks

OFL Statement on Day of Mourning for Workers Killed or Injured on the Job April 28, 2013

Read more here: Without Justice, No Fallen Worker Can Rest in Peace

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Charter for Qatar World Cup workers

Category : Business, World News

The committee responsible for overseeing Qatar’s 2022 World Cup says a new “workers’ charter” will ensure worker welfare standards in the Gulf state.

See the article here: Charter for Qatar World Cup workers

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VIDEO: Three years on from BP oil disaster

Category : Business

Three years ago BP’s Deepwater Horizon oil rig exploded in the Gulf of Mexico killing 11 workers and causing the worst environmental disaster in US history.

Originally posted here: VIDEO: Three years on from BP oil disaster

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Unemployment: doleful Britain | Editorial

Category : Business

For the first time in ages, the job figures are unambiguously grim – and things are pretty miserable for those in work

Whenever they have been asked to defend their austerity programme, ministers have not had much good economic news to cite. The GDP figures veer between mediocre and dismal, the public finances are not much better and, what’s more, the forecasts keep getting worse – as this week’s downgrades from the IMF illustrate. Which has left the government with precious little to show that its policies are working – apart, that is, from the resilience of the labour market. Indeed, 2012 was the best year for employment growth since 2000.

Which must make yesterday’s jobs figures doubly alarming for the coalition. Unemployment always constitutes bad economic and political news; but these particular numbers also knock away a rather lonely-looking support for current economic policy. And make no mistake, for the first time in ages, the statistics are unambiguously grim: unemployment and youth unemployment both up – and the numbers of people out of a job for over a year steadily rising. What’s more, for those in work things are pretty miserable: the average employee is now seeing his or her pay rise at an annual rate of just 0.8%. Inflation, as measured by the retail prices index, is 3.2%. In other words, workers are seeing their real pay fall by 2.4% a year. The Office for National Statistics notes that this is the slowest nominal-wage growth it has seen since its records began in 2001 – and obviously lower even than in the depths of the banking crisis.

Such poor figures show how meaningless it is to talk of double- or triple-dips. At this stage after a recession, the labour market is normally adding jobs and workers are seeing their wages go up. Not in this slump: the median employee is now being paid over 10% less than they were

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Building firms blacklist angers MPs

Category : Business

Building firms which set up a “systematic blacklist” of workers do not appear to be taking full responsibility for their actions, according to MPs.

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The Cyprus bank staff hit worst of all

Category : Business, World News

Cyprus bank workers fear for their jobs, savings and pensions

Original post: The Cyprus bank staff hit worst of all

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Nick Clegg proposes tax breaks on bonuses at employee-owned firms

Category : Business

Deputy PM says he wants to encourage more owners to sell business on to employees

Nick Clegg will propose tax breaks on bonuses handed out to staff in employee-owned firms as part of an attempt to boost what he calls the “John Lewis economy”.

In a speech to the Employee Ownership Association, the deputy prime minister will outline plans to consult in the summer on “a relief on tax on bonuses paid through benefit trusts, where a significant chunk of the business is owned by employees”.

To qualify it would be necessary for the rewards to go to the whole company and not just those at the top.

It is the first time that Clegg has gone so far as to promise a specific consultation on the issue. He will say: “Employee ownership works because it so neatly aligns incentives and puts the workers at the heart of the business.”

The ideas go beyond the budget commitment to provide £50m capital gains tax relief from next year for a majority shareholder to sell his company to his employees.

Justifying that plan, Clegg will say: “Many owners end up selling to the investor who has the largest chequebook but little regard for the traditions, employees and customers of the firm.

“Others hand the business down to their children even if that isn’t what they or their children really want. What we want to encourage is for more owners to sell the business on to those people who know the business inside out, who will go the extra mile, the wider family who have worked to build it up and contribute to its success – in other words, the employees.”

In the past year there has been a 10% growth in the number of employee-owned firms.

In common with the Tories Francis Maude and Oliver Letwin, Clegg is pushing for a diverse model of companies in the UK, including mutuals in the public sector. He will say: “A diversity of business models in an economy is important because it ensures that not all firms are structured to take short-sighted, gung-ho risks on behalf of others.

“Crucially, employee ownership can drive employee engagement by aligning the incentives of ordinary workers and the business. In practical terms, it means lower absenteeism and lower levels of staff turnover. Across public service mutuals we have seen organisations who have decreased their absenteeism by an average 20% since spin-out. Many companies spend thousands of pounds to come up with quirky ideas to motivate their staff, yet fundamentally it is the structure of their company which fails to align incentives.

“The Cass Business School concluded in 2010 that employee-owned businesses are between nine and 19% more productive than traditionally structured companies. So not only does employee ownership help build a more motivated, more committed workforce, but it improves the bottom line too.”