News archive from 15 August 2012

Lonmin halts South Africa platinum output after violence

Lonmin, already struggling with low prices and weak demand, may miss its annual production target of 750,000 ounces as the quarter to the end of September is typically its best. Its share price fell more than 4 percent in London and Johannesburg. The...

Reuters, 22:00 in Business

LightSquared investigation deadline extended

The deadline was extended to September 28 from September 11 in U.S. bankruptcy court, effectively allowing the parties involved more time. A group of lenders holding over $1.08 billion of secured debt at LightSquared LP, the company's main operating...

Lawmakers point to possible money laundering issues at Wal-Mart

Lawmakers point to possible money laundering issues at Wal-Mart

"We have obtained internal company documents, including internal audit reports, from other sources suggesting that Wal-Mart may have had compliance issues relating not only to bribery, but also to 'questionable financial behaviour' including tax...

Reuters, 22:11 in Business


The clash was part of an increasingly violent challenge to new presidential orders to restructure the military. Soldiers from the Republican Guards, led by ex-president Ali Abdullah Saleh's son, were protesting against a presidential decree that put...


ING Asia sale raises regulatory hackles, may frustrate Dutch seller

The regulatory uncertainty is yet another stumbling block for ING as the Dutch bank and insurer seeks to dispose of its Asia insurance units to help repay a bailout from the Dutch government during the 2008 financial crisis. Its Japan insurance unit,...

Reuters, 22:11 in Business

Wildfire destroys 60 homes, burns 20,000 acres in Washington state

Another 400 homes were evacuated in the rolling hills between Cle Elum and Ellensburg, two towns in northwest Washington at the eastern edge of the Cascade Mountains. The massive blaze was among more than a dozen wildfires burning across the U.S....


BP repairs damaged coker, plans work at Whiting -IIR

IIR's report also showed that BP started turnaround work on a 105,000 bpd hydrotreater and an isomerisation unit over the weekend. Another maintenance work - on the 75,000 bpd "pipestill 11A" sour crude unit - will begin on Thursday. Work on...

Reuters, 22:18 in Business
JPMorgan to let futures clients keep extra cash in the bank

JPMorgan to let futures clients keep extra cash in the bank

JPMorgan is the biggest U.S.-based bank and runs the second-biggest U.S. futures brokerage. The change comes a day after the indictment of Peregrine Financial Group CEO Russell Wasendorf Sr. for lying to regulators as part of a scheme he says bilked...

Reuters, 22:18 in Business

Salterforth cottages bid rejected on appeal

HOLIDAY cottages planned for Salterforth have been ditched on appeal. The cottages would have been built on land within a field close to the farmhouse at Bashfield Farm in Kelbrook Road. But government inspector Gary Deane agreed with the Pendle...


Israel hasn't decided on Iran strike - Pentagon

Panetta, who visited Israel two weeks ago, told reporters at the Pentagon it was important that military action be the "last resort" and said there was still time for sanctions and diplomatic pressure to work. That contrasts with Israeli...


Companies score gold at 2012 Olympics

Wildfire, the social media management web software recently bought by Google and used by 16,000 companies worldwide, enabled firms to create Olympics promotions and campaigns on social platforms and track fan growth and engagement. Some of the...


Lawmakers suspect money laundering issues at Wal-Mart

Reps. Elijah Cummings and Henry Waxman, who are the ranking members, respectively, of the House Oversight and House Energy committees, disclosed the latest details of their probe in an August 14 letter to the company. "We have obtained internal...

Reuters, 22:32 in Business
'I said to him we would be OK and then he died'

'I said to him we would be OK and then he died'

It was only then that Clare found out the full extent of his symptoms, and the couple were soon given the devastating news that 44-year-old David had bowel cancer. Clare, aged 47, said: "It was back in 2006, after Christmas we said, 'Let's all go...


Goldman execs win dismissal of mortgage, TARP lawsuit

U.S. District Judge William Pauley in Manhattan said the shareholders failed to show there were "red flags" to put bank directors on notice of "broken controls" in Goldman's mortgage servicing business, including that workers at...

Reuters, 22:40 in Business

Rent rise on horizon for housing tenants

NEW tenants in council homes across Sheffield could pay £3.74 a week extra in rent from next year under proposals out for consultation. The city council is asking for people’s views on letting empty homes at a target rent - the same level that housing...


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