Barrick Gold explores Africa sale
Canadian miner Barrick Gold has been exploring a sale of its 74 per cent stake in African Barrick, the London-listed gold producer, in a move that could prompt a full takeover. Barrick has been working with UBS to consider its options for African Barrick, which the Canadian miner, the largest gold producer globally, partially floated in 2010.
US retailers to create mobile wallet
A group of the largest US retailers, including Walmart, Target and Best Buy, on Wednesday announced plans to create a joint mobile wallet service called Merchant Customer Exchange, adding yet another competitor to the already crowded market for mobile phone payment services.
Holcim shakes up top management
Holcim is to reshuffle its senior management as its new chief executive Bernard Fontana continues his drive to improve profitability at the world’s largest cement maker by sales. Cement manufacturers have struggled with rising energy and raw materials prices over the past 18 months.
HMRC names worst tax fraudsters
The taxman will today name Britain’s 20 most wanted tax fraudsters, who it claims have collectively cheated the Exchequer out of more than £700m. Photographs of the tax evaders will be posted to the Flickr photo website this morning.
Broadband speeds third higher
Upgrades to the nation’s broadband network has boosted average broadband speeds to 9Mbps from 7.8Mbps six months ago. The average speed is a third higher than at the same time last year.
The Daily Telegraph
Soros has $10m Facebook investment
George Soros, the legendary investor, has revealed he spent around $10.6m (£6.7m) buying 341,000 shares in the social networking site Facebook in the second quarter. This is contrary to move of other investors who have been “defriending” Facebook ever since it listed in May.
S&P cuts Nokia further into junk
Standard & Poor’s has cut phone maker Nokia’s credit rating further into junk territory as it expects profits to fall in the second half of the year.
THE WALL STREET JOURNAL
Samsung and Apple urged to talk
The judge overseeing the patent trial between Apple and Samsung has asked the chief executives of both companies to talk one more time to try to settle the case before it is handed to a jury.
Union split on Caterpillar offer
Union leaders are split on the merits of a pay offer made by American machinery giant Caterpillar in an effort to end a strike that began May 1 at the company’s plant in Joliet, Illinois. Some workers would receive a three per cent rise.