Barrick Gold ends talks with China Gold over sale of African unit January 8, 2013 Canadian producer Barrick Gold this morning said talks had fallen through regarding the sale of unit African Barrick Gold (ABG) to China Gold. The talks with China Gold regarding the London-listed gold producer, which is 74 per cent-owned by its parent Barrick Gold, were first announced in August. “These discussions were part of our ongoing [...]
Anglo American names Mark Cutifani for top job January 8, 2013 Miner Anglo American has appointed Mark Cutifani as its chief executive. Cutifani, currently chief executive of South African-focused gold producer AngloGold Ashanti, will begin his tenure on 3 April. He is also the current president of the South African Chamber of Mines. “He is a seasoned miner, with broad experience of mining operations and projects [...]
Banks hammered by $20bn mortgage bill January 7, 2013 US BANKS were hit with compensation payments and settlement costs of almost $20bn (£12.4bn) yesterday as regulators and the industry moved to end long-running rows over the toxic debt and aggressive repossessions of the credit crunch era. Ten banks will have to pay a total of $8.5bn in compensation and mortgage assistance to customers who [...]
Slump drags finance jobs to eight-year low January 7, 2013 THE COLLAPSE in UK finance jobs continued apace in December, with the number of persons working in regulated jobs falling to its lowest level since 2004, according to new data published yesterday. Just 153,835 people are now on the Financial Services Authority’s approved persons list – down 10.6 per cent on the February 2008 peak, [...]
It’s Magic: Boris Johnson launches breakfast campaign January 7, 2013 The Mayor’s Fund for London and Magic Breakfast has today launched a campaign to provide 5,000 children with free healthy breakfasts across London’s most disadvantaged areas. Ninety-three per cent of teachers say they have noticed an improvement in behaviour and concentration from children who have had a good breakfast. Mayor of London Boris Johnson said: [...]
Goldman says austerity plan is slower than peers’ January 7, 2013 THE SPENDING cuts and tax hikes scheduled to hit the UK in 2013 are milder than most other advanced economies, according to a Goldman Sachs research note out yesterday. Fiscal policy is planned have a tightening effect of about one per cent of GDP this year, Goldman estimates, as the government brings the budget deficit down [...]
Daft planning rules are pushing up the price of food in shops January 7, 2013 IF you travelled abroad over Christmas, you will have noticed that goods in shops are often cheaper than in the UK. A uSwitch survey cited by the Institute of Economic Affairs shows that a food basket costs roughly a fifth more in the UK than it does in Germany, France and the Netherlands. Once again, [...]
Balfour Beatty chief to hand reins to deputy January 7, 2013 BALFOUR Beatty last night said Ian Tyler will step down from his role as chief executive on 31 March, marking the end of an eight year stretch at the top of the FTSE 250-listed infrastructure group. Tyler will hand the reins to deputy chief executive Andrew McNaughton before “exploring new opportunities outside Balfour Beatty”, he [...]
Birds Eye boss to step down January 7, 2013 MARTIN Glenn, the boss of Iglo Group, which includes Birds Eye foods, is quitting after six years running the company. The chief executive will leave in the next few months, Sky reported last night, after leading the company through the recession and austerity. Birds Eye products have done well in straitened times, as cash-strapped consumers [...]
Ernst & Young probed by US January 7, 2013 THE US Securities and Exchange Commission (SEC) is investigating whether accountancy firm Ernst & Young violated auditor rules by letting its lobbying unit perform work for several major audit clients, according to Reuters. US rules bar auditors from serving in an “advocacy role” for audit clients. An SEC spokesman declined to comment. An Ernst & [...]
