Anglo American's copper production and from retained operations rose 23 percent for the fourth quarter of 2015. The overall copper equivalent basis production for 2015 rose five percent when compared with 2014. Majority of metals including copper, coal, nickel and iron ore tumbled during the second half of 2015. The copper inventory of Anglo American was at 197,631 tons as on 2015.
Sectors
Apple recalls plug adapters: over risk of electric shock
Apple announced a recall of wall plug adapters warning the risk of electric shock. The recall applied to those adaptors used in Australia, New Zealand, Continental Europe, Korea, Argentina and Brazil.
Gasoline smuggling dents export revenues for Venezuela
South American nation Venezuela is suffering from gasoline smuggling to neighboring nations. Gasoline is heavily subsidized in Venezuela. The cheaper gasoline smuggling has become a major revenue source in the crisis-hit Venezuelan economy. Venezuela's President has deployed soldiers in large number to keep constant vigil on its borders. Venezuela is losing foreign exchange revenue in US dollars because of smuggling of gasoline.
Foreign investors bail on Russian stocks
Global investors are withdrawing from Russian stock markets as volatility is high in equities and currency Ruble. The continuous drop in oil price is impacting the Russian economy much as it's the main revenue source for the country. The gap between onshore and offshore traded equities is narrowing down as foreign investors are selling off.
Anglo Kumba Unit cuts off 3,900 jobs: iron ore demand drops
South African largest iron ore producer Kumba cuts as many as 3900 miners after prices plunged. Kumba decided to restructure the Sishen mines to become a low cost pit configuration and as a result, about 2,633 employees of Kumba and 1,300 contractors will be affected.
Latest News
Global Innovation: China, India, and Thailand Are Among Countries With Lesser Support for Innovation
The Information Technology and Innovation Foundation (ITIF) concluded the study based on 27 factors that bring both positive and negative impact towards global innovation. The study involved 56 countries, whereas China stood at the 44th rank, Thailand the 53rd, followed by India. ITIF also noted that supporting global innovation is crucial for countries' economic growth.
China's tech startup may find 2016 as a tough year as venture capital will face a slowdown this year. Analyst predicted venture capital in China will decline this year, and government try hard to boost the development.
A number of Air Force drones crashed in major accidents, even involving the Reaper, the Air Force newest and most advanced drone. Pentagon is keeping quiet on the cause behind the drone crashes.
Researchers at the University of California, Los Angeles developed a non-invasive electric patch to treat the symptoms of Post-Traumatic Stress Disorder (PTSD). The electric patch uses trigeminal nerve stimulation (TNS) technique to stimulate the nucleus tractus solitaries to produce pain killer compounds in the brain.
The app has been widely used in Spain and just launched in Paris and London. The services focus on blue collar workers and small business who often need a more simple and time-saving recruitment process. The app works similarly to dating app Tinder, where one party can swipe to decide whether the profile on screen fit what they are looking for.
Air France and KLM are planning to reinstate direct flights to Iran, now that the international sanctions regarding the country's nuclear ambitions are lifted. Iran also planned to request direct flight to the U.S, for the first time since the two countries broke their diplomatic relationship 36 years ago. Air France and KLM are expected to start flying to Iran within the next three months.
South Korea is famous for its skin care and cosmetic products that use unusual traditional ingredients, including snail slime. This ingredient is said to be very helpful in the skin collagen formation as well as to be used as moisturizer. More and more Korean beauty products enter the U.S. as the demand is also increasing.
Childhood obesity has increased drastically worldwide and WHO seeks political involvement in handling the issue. About 48% of obese and overweight children aged 5 and below reportedly belong to Asia and Africa.
Argentinean farmers are reportedly facing the worst kind of locust plague ever in the last 60 years. The plague if not contained could lead to severe crop infestation, resulting in starvation and famine.
