Commissions banned on new sales

31 December 2012 Last updated at 07:37 ETFinancial advisers and sales staff can no longer be paid commissions by the firms whose policies they are selling.New rules, aimed at eradicating the long-standing practice, are being imposed by the Financial Services Authority (FSA) from now.The aim is to stop policies – such as private pensions and investments – being mis-sold by sales staff, motivated by...

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Canadian job creation seen sharply lower in December

OTTAWA (Reuters) – Canada‘s job market is expected to slow markedly in December to reflect the sluggish economy and employers’ fears about the U.S. fiscal crisis following outsized gains of over 50,000 jobs in two of the previous three months.The median forecast in a Reuters poll is for the economy to add just 5,000 jobs in the month, with forecasts ranging from a loss of 20,000 positions to a gain...

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NASA Sets Record with Ion Thrusters Test

NASA has completed a 43,000 hour stress test — a record for ion thrusters — on a new rocket propulsion system that could extend future space travel to farther reaches of the solar system.Developed by NASA’s Evolutionary Xenon Thruster Project, the 7-kilowatt ion thruster can burn 10-12 times longer than the conventional chemical thrusters used today. Though not practical for manned-spaceflight, the...

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Hot spots draw believers, but not doomsday

As the sun rose from time zone to time zone across the world on Friday, there was still no sign of the world’s end — but that didn’t stop those convinced that a 5,125-year Mayan calendar predicts the apocalypse from gathering at some of the world’s purported survival hot spots.Many of the esoterically inclined expected a new age of consciousness — others wanted a party. But, in some places said to...

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Republican Senator: chances for “fiscal cliff” deal “exceedingly good”

WASHINGTON (Reuters) – Republican Senator Lindsey Graham said on Sunday that chances for a small “fiscal Cliff” deal in the next 48 hours were “exceedingly good” and that President Barack Obama had won.“I think people don’t want to go over the cliff if we can avoid it,” Graham said on Fox News Sunday.“This deal won’t affect the debt situation, it will be a political victory for the president and I...

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We’re Paying Off Our Debts, At Least At Home

Had it with the so-called fiscal cliff? Wondering what comes next now that Republicans pulled the plug on House Speaker John Boehner’s Plan B? Take a break from the frenzy in Washington and ignore for the moment the federal government’s red ink. Focus instead on another balance sheet that isn’t getting enough attention: The household balance sheet. Over the past five turbulent years, despite high...

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Suspected US drone kills 3 al-Qaida men in Yemen

SANAA, Yemen (AP) — Three al-Qaida militants were killed in a suspected U.S. drone strike in southern Yemen, Yemeni security officials said, the fourth such attack this week and a sign attacks from unmanned aircraft are on the upswing in the country.The officials said the three men were hit as they were riding in a Land Cruiser in el-Manaseh village on the outskirts of Radda in Bayda province. Dozens...

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Apple still said to account for 87% of North American tablet traffic as Kindle Fire, Nexus 7 gain

Apple’s (AAPL) share of the global tablet market is in decline now that low-cost Android slates are proliferating, but the iPad still appears to be the most used tablet by a huge margin. Ad firm Chitika regularly monitors tablet traffic in the United States and Canada and in its latest report, Apple’s iPad was responsible for almost 90% of all tablet traffic across the company’s massive network.[More...

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Piano maker Steinway takes down “for sale” sign

NEW YORK (Reuters) – Steinway Musical Instruments Inc, the famous manufacturer of pianos, saxophones and trumpets, said on Wednesday it had decided not to sell itself following a 17-month-long exploration of strategic alternatives.An American icon synonymous with handmade grand pianos, Steinway has struggled to keep its production margins competitive amid stagnant sales, and has seen its shares plunge...

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MSF warns Kenya not to send more refugees to stricken camp

LONDON (Reuters) – Conditions in a camp for Somali refugees in Kenya are deplorable and a government plan to send in thousands more would pose a major risk to health, medical charity Medecins Sans Frontieres (MSF) said on Friday.Kenya has more than half a million refugees from Somalia, which has lacked an effective central government since the outbreak of civil war in 1991.A series of bombings, shootings...

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