Company news in brief
Anglo ponders fate of SA coal assets
Global miner Anglo American will decide this year whether to sell its South African thermal coal business, chief executive Mark Cutifani told Reuters on Monday.
Anglo American and other mining companies have come under growing pressure to reduce their exposure to coal because of concern over climate change. South32 has agreed to sell its South African thermal coal operation to Seriti Resources, subject to regulatory approval.
Cutifani said Anglo American would consult with government, communities and employees before a decision is announced.
It has already received interest from potential buyers both inside and outside of South Africa, he said.
The diversified miner had no plans to exit its coking coal business but was rather looking at ways to reduce its carbon impact, he said.
Increasing pressure from investors, regulators and climate change activists is prompting miners to limit their exposure to fossil fuels. – Nampa/Reuters
Ghana probes bribery accusations in Airbus deal
Ghana has ordered a probe into accusations of bribery by European planemaker Airbus to ensure the purchase of three military planes between 2009 and 2015.
Ghana was among over a dozen countries involved in a US$4-billion settlement Airbus agreed with European and US regulators concerning alleged bribes to clinch sales of its aircraft.
Airbus hired - and disguised about 5 million euro in payments to - a close relative of a government official in Ghana with no aerospace experience in connection with the sale of the planes, Britain's Serious Fraud Office (SFO) said on Friday.
The SFO's disclosures, made public after a nearly four-year investigation, came as courts on both sides of the Atlantic formally approved settlements that lift a legal cloud that has hung over Europe's largest aerospace group for years.
Ghana will "conduct a prompt inquiry to determine the complicity or otherwise any Ghanaian government official, past or present," president Nana Akufo-Addoâ’s office said in a statement late on Sunday. – Nampa/Reuters
Alphabet records revenue growth in 5 years
Google-parent Alphabet Inc on Monday reported its worst fourth-quarter revenue growth since 2015, missing analysts' estimate for a period in which its top online advertising rivals beat expectations.
The company reported a net income of US$10.67 billion, or US$15.35 per Class A and B common share and Class C capital share, for the fourth quarter ended Dec. 31, from US$8.95 billion, or US$12.77 per share, a year earlier.
Revenue jumped 17.3% to US$46.08 billion.
Analysts on average had expected revenue of US$46.94 billion and earnings of US$12.53 per share, according to IBES data from Refinitiv. – Nampa/Reuters
Hyundai suspends production over Corona
South Korea's largest automaker Hyundai Motor halted operations at one of its assembly lines yesterday because of a lack of parts due to the coronavirus outbreak in China and is reviewing a wider suspension, a company spokeswoman said.
The global car industry operates on tight supply lines and was thrown into turmoil when Japan's Fukushima earthquake and tsunami in 2011 knocked out a Renesas Electronics factory producing a vital and widely used computer chip.
The virus outbreak in China had disrupted wiring component procurement, a Hyundai spokeswoman said.
She could not estimate when production might resume and added the company was discussing possible suspensions of operations at more plants with its labour union.
"The situation doesn't look good," she said. – Nampa/AFP
Nissan weighs restarting China production
Nissan Motor said yesterday it is considering restarting production in China in its venture with Dongfeng Motor Group sometime after Feb. 10, citing government guidance and its assessment of the coronavirus epidemic.
The Japanese car maker also said production in Hubei province, the epicentre of the epidemic, will start sometime after Feb. 14.
The production plan is subject to change after reviewing the coronavirus situation in the days ahead, a company spokeswoman said.
The virus outbreak has killed over 420 people, spread around the world and raised fears about global economic growth. – Nampa/Reuters
Global miner Anglo American will decide this year whether to sell its South African thermal coal business, chief executive Mark Cutifani told Reuters on Monday.
Anglo American and other mining companies have come under growing pressure to reduce their exposure to coal because of concern over climate change. South32 has agreed to sell its South African thermal coal operation to Seriti Resources, subject to regulatory approval.
Cutifani said Anglo American would consult with government, communities and employees before a decision is announced.
It has already received interest from potential buyers both inside and outside of South Africa, he said.
The diversified miner had no plans to exit its coking coal business but was rather looking at ways to reduce its carbon impact, he said.
Increasing pressure from investors, regulators and climate change activists is prompting miners to limit their exposure to fossil fuels. – Nampa/Reuters
Ghana probes bribery accusations in Airbus deal
Ghana has ordered a probe into accusations of bribery by European planemaker Airbus to ensure the purchase of three military planes between 2009 and 2015.
Ghana was among over a dozen countries involved in a US$4-billion settlement Airbus agreed with European and US regulators concerning alleged bribes to clinch sales of its aircraft.
Airbus hired - and disguised about 5 million euro in payments to - a close relative of a government official in Ghana with no aerospace experience in connection with the sale of the planes, Britain's Serious Fraud Office (SFO) said on Friday.
The SFO's disclosures, made public after a nearly four-year investigation, came as courts on both sides of the Atlantic formally approved settlements that lift a legal cloud that has hung over Europe's largest aerospace group for years.
Ghana will "conduct a prompt inquiry to determine the complicity or otherwise any Ghanaian government official, past or present," president Nana Akufo-Addoâ’s office said in a statement late on Sunday. – Nampa/Reuters
Alphabet records revenue growth in 5 years
Google-parent Alphabet Inc on Monday reported its worst fourth-quarter revenue growth since 2015, missing analysts' estimate for a period in which its top online advertising rivals beat expectations.
The company reported a net income of US$10.67 billion, or US$15.35 per Class A and B common share and Class C capital share, for the fourth quarter ended Dec. 31, from US$8.95 billion, or US$12.77 per share, a year earlier.
Revenue jumped 17.3% to US$46.08 billion.
Analysts on average had expected revenue of US$46.94 billion and earnings of US$12.53 per share, according to IBES data from Refinitiv. – Nampa/Reuters
Hyundai suspends production over Corona
South Korea's largest automaker Hyundai Motor halted operations at one of its assembly lines yesterday because of a lack of parts due to the coronavirus outbreak in China and is reviewing a wider suspension, a company spokeswoman said.
The global car industry operates on tight supply lines and was thrown into turmoil when Japan's Fukushima earthquake and tsunami in 2011 knocked out a Renesas Electronics factory producing a vital and widely used computer chip.
The virus outbreak in China had disrupted wiring component procurement, a Hyundai spokeswoman said.
She could not estimate when production might resume and added the company was discussing possible suspensions of operations at more plants with its labour union.
"The situation doesn't look good," she said. – Nampa/AFP
Nissan weighs restarting China production
Nissan Motor said yesterday it is considering restarting production in China in its venture with Dongfeng Motor Group sometime after Feb. 10, citing government guidance and its assessment of the coronavirus epidemic.
The Japanese car maker also said production in Hubei province, the epicentre of the epidemic, will start sometime after Feb. 14.
The production plan is subject to change after reviewing the coronavirus situation in the days ahead, a company spokeswoman said.
The virus outbreak has killed over 420 people, spread around the world and raised fears about global economic growth. – Nampa/Reuters
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