BHP begins hunt for new chief
BHP Billiton has quietly started looking for a successor to Marius Kloppers, chief executive, in what could herald a further shake-up in the leadership of the global mining industry following a five-year period of stability.
JPMorgan in talks over SEC claims
JPMorgan Chase is in advanced settlement talks with the Securities and Exchange Commission over allegations of misconduct in the handling of mortgage-backed securities, according to people familiar with the matter. The settlement – if finalised as expected – would remove one significant item from the bank’s toxic pile of litigation and regulatory action related to both the financial crisis and its trading losses this year.
Property rebound fuels Freddie Mac
Freddie Mac has posted its fourth straight quarterly net profit, underlining how the US property market has rebounded and the state-owned mortgage guarantor is weaning itself off its taxpayer support. The US mortgage financier recorded a $2.9bn third-quarter profit.
Tata Steel penalty for over-mining
Allegations of illegal mining in the eastern Indian state of Orissa have landed Tata Steel with a near-£700m fine.
The state’s government imposed the penalty of more than 60 billion rupees as part of a wider crackdown on improper mining activity.
Swedes set right example, says MP
Conservative MP Ben Gummer will argue on Friday that Britain needs to take Swedish lessons in reducing debt.
The Daily Telegraph
Government may end EDF talks
Britain is prepared to walk away from talks with French giant EDF Energy over its planned UK nuclear plant if the burden for the consumer is too high, said John Hayes, the energy minister.
Deutsche Bank boss courts Acromas
Plans to offload the company behind the AA and Saga have stepped up a gear after the chief executive of Deutsche Bank, Anshu Jain, met with management to discuss options.
THE WALL STREET JOURNAL
Libor inquiry in Singapore
Citigroup disclosed in its quarterly financial filing yesterday that the Monetary Authority of Singapore has launched an inquiry into its practices involving the setting of global interest rates.
Apollo in talks on McGraw-Hill unit
McGraw-Hill Cos. has entered into exclusive discussions to sell its education unit to Apollo Global Management, with an agreement within a few weeks.