Fresnillo CEO Eyes Mining Cost Inflation of 7%-8% In 2012
Mexican precious metals producer Fresnillo PLC (FRES.LN) expects mining cost inflation at 7%-8% this year due to higher costs for imported goods such as explosives and higher local costs such as labor and diesel, the company's chief executive said Tuesday.
Greece's Alpha Bank Close to Deal to Buy Lender Emporiki - Report
Greece's Alpha Bank (ALPHA.AT) is close to a deal to buy France's Credit Agricole (ACA.FR) Greek subsidiary Emporiki Bank (TEMP.AT), Greek daily newspaper Imerisia reports Tuesday, citing unnamed sources.
Mitsubishi UFJ Financial 1Q Earnings Fall
Mitsubishi UFJ Financial Group Inc. (8306.TO) said Tuesday its net profit in the April-June quarter dropped 63.5% from a year earlier, when it posted a one-time gain from the conversion of its holdings of preferred shares in Morgan Stanley (MS) into common shares at the end of June.
Ziggo Major Holders Cinven and Warburg Pincus to Reduce Stake
Two major shareholders in recently listed Dutch cable company Ziggo NV (ZIGGO.AE) said Tuesday they will reduce their stake in the company.
UBS Upgrades Short-term Gold Forecasts Amid Improving Sentiment
Swiss bank UBS AG (UBS) Tuesday raised its short-term outlook on gold prices to reflect a gradual improvement in investor sentiment, a strengthening technical outlook and expectations of seasonally-strong demand.
Korea KHNP: Commenced Commercial Operations of 1 GW Nuclear Reactor at Wolsong
South Korean nuclear operator Korea Hydro & Nuclear Power Co., or KHNP, said Tuesday that it has commenced commercial operations of a reactor at Wolsong, bringing the total number of reactors in the country to 23.
Rio to Cut Australia Jobs, Shut Office to Trim Costs-Sources
Rio Tinto PLC (RIO) is cutting some jobs at its regional headquarters in Melbourne and will close an office in Sydney as the Anglo-Australian mining giant moves to contain costs amid falling prices for key commodities such as iron ore, two people familiar with the matter said Tuesday.
UBS: 'Appropriately Provisioned' for Possible Lawsuits
UBS AG (UBS) said Tuesday it has put enough money aside for potential litigation, including possible claims resulting from investigations into manipulation of the London interbank offered rate, or Libor.
China Increases 2012 Railway Infrastructure Investment by 16%
China has quietly increased its budget for railway investment this year by 16%, data from the Ministry of Railways showed, a fresh sign that Beijing is boosting the economy through infrastructure spending.
ENRC Pays $101.5 Million for Congo Frontier Copper License
Kazakhstan-focused Eurasian Natural Resources Corp PLC (ENRC.LN) said Tuesday that the Congolese government has granted it a license for the Frontier copper mine in exchange for $101.5 million, marking a key milestone for the company's African copper growth plans.