Company news in brief
Acacia's mine ordered to stop using tailings storage facility
Acacia Mining said yesterday that Tanzania has ordered it to stop using tailing storage facility at its North Mara mine due to failure to contain and prevent seepage.
Acacia said it will request copies from National Environment Management Council of any investigation reports or data on which the notice was based on.
The company's North Mara mine was previously fined for breaching environmental regulations. – Nampa/Reuters
BHP quarterly iron ore output down slightly
BHP Group Ltd, the world's biggest miner, yesterday flagged US$1 billion in productivity losses for fiscal 2019 as unplanned outages and bad weather hurt its iron ore production.
The Anglo-Australian miner's iron ore output fell to 71 million tonnes during the fourth-quarter ended June 30, compared with 72 million tonnes a year earlier.
BHP forecast fiscal 2020 iron ore production at 273 million to 286 million tonnes.
Full-year iron ore production came in at 270 million tonnes, compared with 275 million last year, and in line with the company's forecast range of 265 million to 270 million tonnes.
Cyclone Veronica tore down the coast of Western Australia in March, hitting several iron ore export hubs, in a return of more turbulent weather after several moderate years. That had prompted BHP to lower its fiscal 2019 iron ore production outlook. – Nampa/Reuters
Renault-Nissan alliance priority for France
Renault's alliance with Japanese partner Nissan remains the priority for France ahead of any further consolidation such as a merger with Fiat-Chrysler, French finance minister Bruno Le Maire said yesterday.
"The priority today is to develop an industrial strategy for the Renault-Nissan alliance, Le Maire said in an interview with Italian daily Corriere della Sera.
"After that, we will have to look at how to consolidate this alliance and it is only on this basis that we will be able to explore future developments," he said.
Le Maire denied the French government had caused the collapse of merger negotiations between the Italian and French automobile giants last month. – Nampa/Reuters
Swatch points to uptick in main markets
Swatch Group shares surged 5% after mid-year results yesterday in which the watchmaker issued a positive outlook regarding its biggest markets and reported progress in curbing grey market sales.
The maker of Longines, Omega and Tissot watches said it expected to reverse a first-half sales fall to post positive sales growth for the year.
The news was a tonic for shareholders who have been gloomy about the prospects for the watchmaker amid concern the US-China trade war could hurt demand for luxury products.
During the first six months Swatch said it had seen growth in major markets which include mainland China, Japan and the United States, and all price segments which run from plastic Swatch watches to the high-end Breguet brand.
But Hong Kong, the world's biggest export market for Swiss watches, had been badly hit by political protests in recent weeks. – Nampa/Reuters
Bills targeting Huawei introduced in US Congress
Members of the US Senate and House of Representatives introduced bills on Tuesday to keep tight restrictions on Huawei Technologies Co Ltd, amid concern about president Donald Trump's easing of curbs on the Chinese firm.
The legislation would among other things bar the removal of the massive telecommunications equipment firm from a Commerce Department trade blacklist without House and Senate approval, and let Congress disallow waivers granted to US companies doing business with the company.
The United States has accused Huawei of stealing American intellectual property and violating Iran sanctions. The Republicans and Democrats backing the measures said they viewed the company as a security threat.
The United States placed Huawei on the Commerce Department's so-called Entity List in May over national security concerns. US parts and components generally cannot be sold to those on the list without special licenses.
Chinese foreign ministry spokesman Geng Shuang told a news briefing in Beijing yesterday that the United States should immediately cease its "suppression" of Huawei. – Nampa/Reuters
Amazon says it will cooperate with EU probe
US online retailer Amazon said yesterday that it would cooperate fully with EU antitrust regulators investigating its use of merchants' data.
The European Commission said the investigation would look into two issues - Amazon's standard contracts with marketplace sellers and the role of data in selecting winners of the "buy box" which allows buyers to add items from a specific retailer into their shopping carts. – Nampa/Reuters
Acacia Mining said yesterday that Tanzania has ordered it to stop using tailing storage facility at its North Mara mine due to failure to contain and prevent seepage.
Acacia said it will request copies from National Environment Management Council of any investigation reports or data on which the notice was based on.
The company's North Mara mine was previously fined for breaching environmental regulations. – Nampa/Reuters
BHP quarterly iron ore output down slightly
BHP Group Ltd, the world's biggest miner, yesterday flagged US$1 billion in productivity losses for fiscal 2019 as unplanned outages and bad weather hurt its iron ore production.
The Anglo-Australian miner's iron ore output fell to 71 million tonnes during the fourth-quarter ended June 30, compared with 72 million tonnes a year earlier.
BHP forecast fiscal 2020 iron ore production at 273 million to 286 million tonnes.
Full-year iron ore production came in at 270 million tonnes, compared with 275 million last year, and in line with the company's forecast range of 265 million to 270 million tonnes.
Cyclone Veronica tore down the coast of Western Australia in March, hitting several iron ore export hubs, in a return of more turbulent weather after several moderate years. That had prompted BHP to lower its fiscal 2019 iron ore production outlook. – Nampa/Reuters
Renault-Nissan alliance priority for France
Renault's alliance with Japanese partner Nissan remains the priority for France ahead of any further consolidation such as a merger with Fiat-Chrysler, French finance minister Bruno Le Maire said yesterday.
"The priority today is to develop an industrial strategy for the Renault-Nissan alliance, Le Maire said in an interview with Italian daily Corriere della Sera.
"After that, we will have to look at how to consolidate this alliance and it is only on this basis that we will be able to explore future developments," he said.
Le Maire denied the French government had caused the collapse of merger negotiations between the Italian and French automobile giants last month. – Nampa/Reuters
Swatch points to uptick in main markets
Swatch Group shares surged 5% after mid-year results yesterday in which the watchmaker issued a positive outlook regarding its biggest markets and reported progress in curbing grey market sales.
The maker of Longines, Omega and Tissot watches said it expected to reverse a first-half sales fall to post positive sales growth for the year.
The news was a tonic for shareholders who have been gloomy about the prospects for the watchmaker amid concern the US-China trade war could hurt demand for luxury products.
During the first six months Swatch said it had seen growth in major markets which include mainland China, Japan and the United States, and all price segments which run from plastic Swatch watches to the high-end Breguet brand.
But Hong Kong, the world's biggest export market for Swiss watches, had been badly hit by political protests in recent weeks. – Nampa/Reuters
Bills targeting Huawei introduced in US Congress
Members of the US Senate and House of Representatives introduced bills on Tuesday to keep tight restrictions on Huawei Technologies Co Ltd, amid concern about president Donald Trump's easing of curbs on the Chinese firm.
The legislation would among other things bar the removal of the massive telecommunications equipment firm from a Commerce Department trade blacklist without House and Senate approval, and let Congress disallow waivers granted to US companies doing business with the company.
The United States has accused Huawei of stealing American intellectual property and violating Iran sanctions. The Republicans and Democrats backing the measures said they viewed the company as a security threat.
The United States placed Huawei on the Commerce Department's so-called Entity List in May over national security concerns. US parts and components generally cannot be sold to those on the list without special licenses.
Chinese foreign ministry spokesman Geng Shuang told a news briefing in Beijing yesterday that the United States should immediately cease its "suppression" of Huawei. – Nampa/Reuters
Amazon says it will cooperate with EU probe
US online retailer Amazon said yesterday that it would cooperate fully with EU antitrust regulators investigating its use of merchants' data.
The European Commission said the investigation would look into two issues - Amazon's standard contracts with marketplace sellers and the role of data in selecting winners of the "buy box" which allows buyers to add items from a specific retailer into their shopping carts. – Nampa/Reuters
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