Anglo American Plc suffered a pre-tax loss of $5.5 billion (£3.8bln) for 2015 year. The 2015 loss was more than twice the loss incurred in 2014. As part of its future strategy, Anglo American is planning to shift its focus to copper, platinum and diamonds.
United Kingdom
Brexit will Force Ireland to Quit EU, Said a Prominent Hedge Fund Manager
Martin Hughes, founder of Toscafund warned that United Kingdom withdrawal from European Union will also force Ireland to quit. Brexit is also feared to bring recession in the UK
Cornwall Ranked Second In Digital Community Growth, Refered to as The California of The UK
The England’s county of Cornwall is being reported to have substantial growing tech community as it ranks second for growth in the UK. The region is still striving to achieve better growth with the improvement of funding and workers’ skills.
Broadridge picks stake in AMA Partners
NYSE-listed Broadridge Financial Solutions has invested in AMA Partners, BV (AMA). By taking minority stake in AMA Partners, Broadridge will expand its corporate governance solution in Europe.
Plus500 Grew Its Revenue Despite a Hard Year in 2015
Plus500 booked an increase in total revenue for 2015 to $275.6 million, despite facing a dificult year. Increase of compliance cost and failed merger with Playtech has disturb the company's operation.
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Michelin posted an increase of 19% in its earnings for the year 2015 helped by low raw material costs and its restructuring activities in Europe. The company also expects strong demand for its tires in 2016.
One of the world's biggest mining company Anglo American Plc announced to sell its share in Kumba Iron Ore on Tuesday. The South African multinational company has suffered loss in its full-year performance.
Brazilian steelmaker Usiminas Siderurgicas de Minas Gerais SA, a Brazilian steel producer, is in the process of offloading its manufacturing unit. Usiminas has already hired Credit Suisse SA as its financial advisor for the unit sale. The sluggish global economy and China's economy slowdown are impacting the Brazilian steel industry in more negative way.
UK-based Vodafone and US cable group firm Liberty Global are combining their operations in Netherlands market to float a joint venture. The combined JV is expected to be operational by end of 2016. Vodafone has agreed to pay €1 billion (£770 million) after excluding Ziggo's net debt of €7.3 billion.
The price of the oil dropped once again to $30 per barrel after Iran delivered its first shipment to Europe. This fall is seen as a boon for some nations while it is considered as a disaster for others.
London is the core economic hub of Europe. Leaving out from the European Union will force the businesses to be pulled out from the UK, argue some analysts. However, HSBC Board’s decision to retain headquarters in London appears to be the best answer to the believers.
BP enters into an agreement with Oman government to widen the license area of Block 61. The company strengthens its commitment in Oman with a view to broadening its business in the country.
Green Party has accused IKEA for dodging tax up to €1 billion ($1.13 billion/ £776 million). MEP has taken the allegation into cognizance and pledged for studying the report and related findings. However, the Swedish furniture giant has rejected the tax evasion allegations and claims for no wrongdoings.
Rolls-Royce halved its dividend payment to shareholders this year. However, many were relieved to get a dividend amount itself, especially since the company had issued five profit warnings in two years. Despite a fall in profit by 12%, the company shares jumped 13%.
