Vale fired inspector who refused to certify deadly dam just months before it collapsed, prosecutors allege March 5, 2019 Brazil’s Vale fired an inspector which failed its Brumadinho dam over safety concerns just months before the dam collapsed, likely killing hundreds, prosecutors have alleged. Over 300 people are dead or missing after the dam broke in the state of Minas Gerais earlier this year, unleashing a wave of mining waste. Read more: Brazil to decommission [...]
Brazil overtakes Russia as biggest exporter to small Chinese refineries as trade war slashes US imports March 5, 2019 Brazil overtook Russia as the biggest supplier of crude oil to China’s independent refineries last month, as the trade war with the US transformed global oil supply lines. Crude shipments from the South American country hit 2.17 million tonnes in February, overtaking Russia, however they were down 5.4 per cent from January, data from S&P [...]
Diamond sales fall at De Beers after unusually strong end to 2018, company reveals March 5, 2019 Rough diamond sales at De Beers fell marginally in the second cycle of the year, the company said today. The Anglo American-owned diamond miner and seller showed sales value down two per cent to $500m from the first cycle of the year. Read more: Diamonds aren’t forever: Sales drop off at De Beers Meanwhile, sales [...]
Buckle your seatbelts for the next global recession – the world is not prepared March 5, 2019 A decade on from the global financial crisis, the world economy is not in good health. Britain is paralysed by Brexit uncertainty, the Eurozone – including its seemingly invincible German powerhouse – is stuttering, and China is experiencing its slowest economic growth since 1990. Read more: Eurozone economic confidence falls to fresh two-year low Even [...]
Plexus shares hit oil as licensee pens deal with Russian energy giant Gazprom March 4, 2019 Plexus Holdings soared today as the small oil and gas service provider said a licensee had signed a deal with energy giant Gazprom. The contract becomes the first major deal for its Russian licensing partner LLC Gusar, which has will supply so-called pos-grip equipment to Gazprom. Read more: Gulf Marine drops 75 per cent on profit warnings Shares [...]
Energean shares jump as drilling starts on offshore Israeli wells March 4, 2019 Energean Oil and Gas bounded on the stock exchange today as it started drilling in Israel. The company said it was drilling three development wells, and will spud its Karish North well on schedule. Read more: Energean shares put foot on the gas after Israeli supply deal The four-well development sent shares up by around [...]
Nasdaq improves offer for Norwegian stock exchange Oslo Bors as bidding battle intensifies March 4, 2019 Nasdaq has boosted its offer for Norwegian stock exchange Oslo Bors as it seeks to outbid rival Euronext. The US exchange said today it had increased its offer from 152 Norwegian kroner to 158 Norwegian kroner, valuing the business at roughly 6.8bn Norwegian krone (£600m). The move matches an offer from European rival Euronext which [...]
Anglo American chief executive doubles pay in successful year March 4, 2019 The chief executive of Anglo American sparkled last year, winning himself a hefty package which more than doubled his pay for the year, the company revealed today. Mark Cutifani took home £14.7m, £8m more than 2017, as the miner’s stock price jumped. Read more: Anglo American to resume operations in Brazil after fixing pipeline leak “Mark Cutifani’s [...]
Newmont hits back at Barrick management as it rejects hostile bid March 4, 2019 Newmont chief executive Gary Goldberg has hit out at Barrick’s management for lacking global experience as his company rejected the miner’s hostile $18bn (£14bn) offer. Read more: Barrick and Newmont bosses exchange insults after hostile bid The offer came just months after Barrick completed its $6bn acquisition of Randgold Resources, installing the target’s chief executive Mark [...]
What Anthony Scaramucci did next March 4, 2019 | City Talk After a brief and calamitous stint in the White House catapulted him to international fame, Anthony Scaramucci is back at SkyBridge Capital, the hedge fund he founded in 2005, he has revealed in an interview with Opto magazine. For a brief period in July 2017, Anthony Scaramucci found himself at the centre of American politics. [...]