Crisis escalates at Lonmin mine August 16, 2012 LONDON-listed miner Lonmin was battling to keep control of its South African mining operations last night as violent clashes between police and armed mineworkers left several dead. Violence erupted between 3,000 protesting Lonmin employees, some carrying machetes and knives, and police at the platinum mines in Marikana following a tense standoff that has been threatening [...]
Manchester United shares dive after Van Persie splash August 16, 2012 SHARES in Manchester United dropped nearly two per cent during trading in New York yesterday, making it the latest so-called broken initial public offering (IPO). The stock closed at $13.77 last night, having sunk to depths of $13.30 earlier in the day, below the $14 it floated at just a week ago. The dip followed [...]
Women fall back in KPMG partner race August 16, 2012 KPMG is struggling to find top-class female employees, having included just three women in its latest round of partner promotions, City A.M. has learned. Just one in ten of the 30 staff picked for promotion in October are women, down from one in four a year ago despite efforts at KPMG and across the professional [...]
Fed and FSA pushing new regulator to play by rules August 16, 2012 STANDARD Chartered’s treatment at the hands of the New York state Department for Financial Services (DFS) has shocked the more established authorities, which are in frantic negotiations with the new regulator to ensure it doesn’t strike out alone again. Regulators in the UK, US and Hong Kong are understood to be furious that they were [...]
It can’t come soon enough. Welcome to the new season August 16, 2012 There’s been too much written since the end of the Olympics comparing the (admittedly inspiring) event with the oncoming football season, most of which maintained that football stars are poor role models, football fans are foul-mouthed and more generally that football pales in comparison with the great sporting drama that we witnessed early this month [...]
What the other papers say this morning August 16, 2012 FINANCIAL TIMES Gold price fall as Asian demand dips Global demand for gold is seeing a significant slowdown as top consumers in India and China pare purchases amid weak economic growth, abruptly halting a consumption boom that started five years ago with the onset of the financial crisis. The World Gold Council, a lobby group [...]
Deloitte calls on UK businesses to drive growth August 16, 2012 DELOITTE’s senior partner has called on UK PLC to step up its part in helping the country return to growth, telling firms it’s time to “step forward”. “[There are] UK corporate cash reserves of some £750bn; low levels of public trust in big business; an eastward shift in global demand; and record levels of public and [...]
Care home costs to be capped August 16, 2012 David Cameron is to push ahead with proposals to cap the cost of care home fees for the elderly, following a lengthy debate within government over the affordability of the plans. Last month Andrew Lansley, the health secretary, suggested that the Treasury was blocking the plan on cost grounds. But the Prime Minister is now [...]
Ecuador grants Assange asylum August 16, 2012 Ecuador yesterday granted political asylum to WikiLeaks’ founder Julian Assange after the government threatened to storm the Ecuadorean embassy in London to arrest the former hacker. Assange has been holed up inside Ecuador’s embassy in Knightsbridge for eight weeks since he lost a legal battle to avoid extradition to Sweden, where he is accused of [...]
China rivals in bid battle for African Barrick August 16, 2012 SHARES in African Barrick Gold (ABG) jumped by eight per cent in trading yesterday on news that it could be the subject of a £1.5bn bid battle. A source close to the company said several bidders were circling the London-listed gold producer, which is 74 per cent-owned by its parent Barrick Gold, but only a [...]
