LUSAKA (Reuters) – Vedanta Resources has offered to step up investment in Zambia’s Konkola Copper Mines (KCM) and implement several social responsibility programmes if it resumes control of the local firm, a company letter sent to the government showed. Zambia’s previous government put KCM into the hands of liquidator Milingo Lungu in May 2019, triggering…
By Nia Williams and Svea Herbst-Bayliss (Reuters) – Three months ago Mark Little, the chief executive of Canadian oil and gas major Suncor Energy, issued a mea culpa. In January two trucks had crashed at an oil sands mine in northern Alberta, killing one person. This raised the number of on-the-job fatalities at Suncor since…
By Helen Reid and Clara Denina JOHANNESBURG (Reuters) – The need to secure new sources of metals for the energy transition amid sanctions on top producer Russia has increased the Africa risk appetite for major miners, who have few alternatives to the resource-rich continent. Companies and investors are considering projects they may have previously overlooked,…
(Reuters) – British real estate firms Capital & Counties Properties and Shaftesbury Plc said they were in advanced talks on a merger that would bring such London tourist destinations as Covent Garden and Soho under one umbrella. Shaftesbury would own 53% and Capco shareholders the remainder in a deal structured as an acquisition of Shaftesbury…
By Aditya Kalra and Abhirup Roy NEW DELHI (Reuters) – Chinese smartphone maker Xiaomi Corp has alleged its top executives faced threats of “physical violence” and coercion during questioning by India’s financial crime fighting agency, according to a court filing seen by Reuters. Officials from the Enforcement Directorate warned the company’s former India managing director,…
By Camillus Eboh ABUJA (Reuters) – Nigerian airline Ibom Air on Saturday said it will not take part in an industry plan to stop flights from Monday over the high cost of jet fuel, saying the move would affect revenues needed to service obligations to financiers and suppliers. The Airline Operators of Nigeria association said…
HARARE (Reuters) – Zimbabwe’s government on Saturday ordered banks to stop lending with immediate effect in a move Harare said was designed to stop speculation against the Zimbabwean dollar and was part of a raft of measures to arrest its rapid devaluation on the black market. The southern African country reintroduced a local currency in…
By William Schomberg LONDON (Reuters) – Chelsea fans arriving at Stamford Bridge a few hours after a private equity-backed deal to buy the club was announced welcomed the prospect of a return to stability but expressed concern about the motivations of the new owners. Chelsea said in the early hours of Saturday that terms had…
By Svea Herbst-Bayliss NEW YORK (Reuters) – Activist investor Daniel Loeb, who wants Royal Dutch Shell Plc to break apart, applauded the energy giant’s decision to move its headquarters even as he sticks to views that a different corporate structure would make it more successful. Loeb, who said in October that his hedge fund Third…
BANGKOK (Reuters) – Thailand on Saturday warned against the creation of online content that risked insulting the country’s monarchy, after a video by a social media influencer promoting e-commerce platform Lazada incensed royalists, who said it was mocking the palace. Thai law prescribes punishments of up to 15 years in jail for each offence if…
