Labor strife, safety concerns push South Africa platinum mechanization
RUSTENBURG South Africa (Reuters) – For decades, production in South Africa’s platinum mines has rested on the muscular shoulders of men risking life and limb to drill into the rock face with jackhammers.
British banks award only 38 percent from mis-sold swaps refund pot
LONDON (Reuters) – Britain’s biggest banks have paid out less than 40 percent of the 4 billion pounds ($6.4 billion) set aside to cover the mis-selling of complex interest rate hedging products, according to data from the financial regulator.
Daimler lifted by jump in third quarter earnings at Mercedes
FRANKFURT (Reuters) – German car and truck maker Daimler reported a 29-percent jump in quarterly core earnings at Mercedes-Benz Cars, its biggest business, surprising investors wary of an economic slowdown and pushing its shares higher.
Americans face post-foreclosure hell as wages garnished, assets seized
NEW YORK (Reuters) – Many thousands of Americans who lost their homes in the housing bust, but have since begun to rebuild their finances, are suddenly facing a new foreclosure nightmare: debt collectors are chasing them down for the money they still o…
Wall St. drops in late selloff; worst three days for S&P 500 since 2011
NEW YORK (Reuters) – The S&P 500 dropped more than 1 percent and posted its worst three-day slide since November 2011 on Monday following worries that global economic weakness will dampen U.S. earnings, along with concern about the spread of Ebola.
Google set to lead $500 million investment in Magic Leap: tech website
(Reuters) – Google Inc and other investors are planning to invest about $500 million in hardware and software developer Magic Leap Inc to deliver “cinematic reality”, technology website Re/Code said, citing sources.
GE aircraft unit to buy helicopter lessor Milestone for $1.78 billion
(Reuters) – General Electric Co’s aircraft leasing unit said it would buy Dublin-based helicopter leasing company Milestone Aviation Group for $1.78 billion.
G20 watchdog toughens up new rule for securities financing
LONDON (Reuters) – Global regulators are making it more expensive for hedge funds and insurance companies to raise money from loaning shares in a bid to curb hitherto unregulated risks in “shadow banking”.
Bid report boosts CSX stock, but deal chances seen remote
CHICAGO (Reuters) – Shares of No. 3 U.S. railroad CSX Corp rose nearly 10 percent on Monday following a report of a rebuffed takeover bid by Canadian Pacific Railway Ltd , but analysts said any such deal would face significant regulatory and other hurd…
France’s Iliad drops plan to buy T-Mobile US
PARIS/WASHINGTON (Reuters) – French low-cost telecoms operator Iliad SA abandoned its attempt to buy T-Mobile US Inc on Monday because of resistance from majority owner Deutsche Telekom , becoming the third bidder to walk away from the carrier in three…
