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...But David Masondo, South Africa’s deputy finance minister and chair of the Public Investment Corporation, which owns 8.4 per cent of Anglo, said the state-owned entity had yet to take a position based on...
...Among the commission’s most controversial suggestions is that of levying a tax on the gross operating profit of corporations, as Margit Schratzenstaller writes for Social Europe....
...The seafood business has been in recovery mode after being buffeted by inflation and price recovery issues, so the delivery of an annual operating profit was important....
...“The recovery in rough diamond demand is expected to be gradual through the rest of the year,” it added....
...The consortium pools credit risk data and publishes it as a resource for public use....
...BUY: Pan African Resources (PAF) South African gold miner has reported a 46 per cent uptick in interim earnings, writes Alex Hamer....
...The research group The Conference Board surveyed far more chief human resources officers than I did and found the same thing....
...A high-profile accounting scandal in 2018 at commodities business Noble Group’s Singapore entity brought the business to the brink of collapse, while Japan’s biggest trading house Mitsubishi Corporation...
...Last year, Saudi Arabia’s Saline Water Conversion Corporation launched a $10mn global prize for Innovation in Desalination....
...China’s state-owned giants, China National Nuclear Corporation and China General Nuclear Power Group, are also expanding rapidly....
...Global smartphone shipments meanwhile increased 7.8 per cent year over year, according to preliminary data, suggesting a broader industry recovery....
...The company started off in 1917 after Ernest Oppenheimer, a German-born diamond trader, raised £1mn to found the Anglo-American Corporation to mine gold around Johannesburg....
...But this period of lower prices could serve as a test of whether Europe’s industrial sector has a chance of recovery....
...Anglo, whose largest investor is South African state entity Public Investment Corporation, on Friday rejected BHP’s offer as “highly unattractive”. BHP has until May 22 to submit a formal bid....
...The UK Serious Fraud Office and law firm Dechert are on the hook to pay potentially millions of pounds to Eurasian Natural Resources Corporation, after the High Court ruled major mis-steps by both parties...
...Gwede Mantashe, mineral resources minister in South Africa, where Anglo has major operations and a secondary listing, has also voiced initial opposition to the deal....
...Steel is an important barometer of growth in China’s investment-intensive economy, which many fear is moving into oversupply in sectors ranging from cars to solar panels due to a weaker than expected recovery...
...Investors are becoming increasingly optimistic about the near-term outlook for Germany, suggesting growing confidence that falling inflation and potential interest rate cuts will lead to a recovery....
...Share moves to note on the New York Stock Exchange include Diamondback Energy, Monday.com and VF Corporation: Diamondback Energy jumped 10 per cent after it announced it would acquire Endeavor Energy Resources...
...The China National Offshore Oil Corporation owns 25 per cent, while Hess holds the remaining 30 per cent that would transfer to Chevron if the deal closes....
...EPRI, an energy research organisation, appointed Vince Sorgi, chief executive of PPL Corporation, as chair of the board....
...The ECB, for its part, has said that it lacks data on asset-backed securities and other structured products issued by financial corporations that are eligible as collateral....
...In some cases, developing countries that are rich with natural resources are looking at options such as carbon credits to generate income....
...Meanwhile, David Masondo, deputy finance minister and chair of the state-owned Public Investment Corporation that is Anglo’s second-biggest shareholder, said in an interview on Thursday that the decision...
...De Beers said the recovery in the rough diamond market would be “gradual” after swinging to a $252mn loss before interest and tax in 2023 from a profit of $994mn a year earlier....
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